Interest rates recorded relative stability for the second week running, about 10 days since the government announced its intention to seek economic support from the International Monetary Fund.

This signifies that investors are gradually reposing confidence in the economy, following the government’s engagement with the International Monetary Fund (IMF) to help revive the economy.

So far, the yield of Ghana’s Eurobonds on the international market is becoming attractive. 

The improved liquidity on the market is expected to help government finance its programmes with ease.

According to the auctioning results, the interest rate on the 91-day Treasury bills stood at 25.89%, compared with 25.88% recorded a week ago.

That of the 182-day T-bills was 26.54%, 0.01% lower than the 26.55% registered the previous week.

Meanwhile, the government recorded a 43% oversubscription from the sale of the short-term instruments.

It secured ¢1.32 billion, from a target of ¢928 million.

A billion cedis was however mobilised from the 91-day T-bills, whilst ¢214.05 million was generated from the sale of the 182-day T-bills.

SecuritiesBids Tendered (GH¢)Bids Accepted (GH¢)Interest rate
91 Day Bill 1.007 billion 1.001 billion25.89%
182 Day Bill 214.05 million 214.05 million26.54%
364 Day Bill 107.06 million                 107.06 million             27.49
    
Total1.328   billion 1.322 billion 
Target 928      million