A fresh debt of ¢610 million was added to the country’s domestic debt at the end of the Treasury bills auction last week.

The government accepted ¢2.58 billion of the offer to support the refinancing of ¢1.97 billion maturing bills.

Last week’s auction experienced robust demand.

Yields on all tenors sustained their upward trend, reaching a 32-week high across the board.

The 91-day increased 40 basis points to 29.19%, while the 182-day expanded 30 basis points to 31.22%. The 364-day also advanced 20 basis points to 33.02%.

The government recorded 24.5% oversubscription of T-bill sales.

About ¢2.170 billion were offered for the short-term security, but the government accepted ¢2.155 billion cedis.

For the 182-day bill, about ¢375.3 million were tendered, but the government accepted ¢353.35 million of the bids.

With regard to the 364-day bill, the government took ¢67.46 million of the ¢80.17 million tendered.

Ghana’s public debt went up by about ¢6.3 billion between April and June 2023 to reach ¢575.5 billion in June 2023, data from the Bank of Ghana has revealed.

This is equivalent to $52.3 billion, approximately 71.9% of Gross Domestic Product (GDP).

According to the data from then Bank of Ghana, the domestic debt component stood at ¢246.9 billion at the end of June 2023, about 30.8% of GDP. This is compared with ¢247.9 billion in April 2023, approximately 30.9% of GDP.