Audio By Carbonatix
Government will borrow ¢94.4 billion via treasury bills in 2024 to finance its expenditure.
This includes ¢31.8 billion buffer for auction shortfalls.
Analysts believe the government will continue the excess uptakes to build the target buffer.
Given the lower inflation and interest rates outlook, the locking-in of the 364-day yield offers a better inflation-adjusted return over the holding period.
In November 2023, the government accepted ¢15.3 billion, surpassing the rollover obligation by 45.4% and the offer target by 26.5%.
However, investors submitted total bids worth ¢15.6 billion (+14.9% month-on-month), exceeding the T-bill offer target by 29.0%.
Importantly, money market liquidity strengthened in November 2023, raising investors' and banks’ demand for weekly Bank of Ghana bills and T bills amidst emerging downward pressure on yields.
In December 2023, the government will face an upcoming refinancing obligation of ¢12.8bn (+21.7% month-on-month).
Latest Stories
-
APSU 2002 Year Group announces key leadership appointments for 97th anniversary hosting & BOLT Steering Committee
6 minutes -
Government backs hybrid model for Ghana’s extractive sector, rejects move to shut out foreign investors
8 minutes -
LMWG commends Heath Goldfields on 5-year community development plan for Prestea
15 minutes -
Eswatini champions SiSwati stories in digital age at World Book Day 2026
16 minutes -
Only weak men forgive cheating partner – Yul Edochie
18 minutes -
Meta repeatedly snubs EU body over Facebook and Instagram user bans
18 minutes -
Family wealth should be viewed as asset class for building transgenerational enterprises – Alex Dadey
21 minutes -
Ghana’s response to Ghanaian evacuees was not necessary- Julius Malema
25 minutes -
Childhood kidney care strained by shortage of specialists, limited equipment—Paediatric Nephrologist
26 minutes -
Over 3m Ghanaians live with mild mental health conditions—GloMeF
40 minutes -
US justice department launches criminal investigation into Trump accuser E Jean Carroll, reports say
44 minutes -
BoG pushes stronger property checks to reduce fraud in real estate sector
48 minutes -
Six students hospitalised after clash between Offinso Technical Institute students and town youth
48 minutes -
No prior notice was given – Weija-Gbawe MCE raises concern over Dam spillage
50 minutes -
Africa’s problem is not ideas but inconsistent execution — Alex Apau Dadey
52 minutes