The government failed to achieve its Treasury bills target despite receiving the first tranche of the $3 billion International Monetary Fund bailout package on May 19, 2023.
It was expected that investor confidence will soar, but that was not the case.
According to the auction results by the Bank of Ghana, the government received ¢2.72 billion from the sale of the short-term financial instruments, slightly lower than the targeted amount of ¢2.73 billion.
The majority of the bids came from the 91-day T-bill as a little above ¢2.01 billion were tendered. All the amount was accepted.
Also, about ¢712 million were offered from the investors for the 182-day bill, which all the bids were received.
There were expectations that interest rates will fall, following the $600 million credited to the Bank of Ghana account. However, it wasn’t so.
The yield on the 91-day T-bill went up to 20.56%, from 20.43%. That of the 182-day bill also inched up by 0.39% to 23.35%.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91 Day Bill | 2.015 billion | 2.015 billion |
182 Day Bill | 712.75 million | 712.75 million |
Total | 2.728 billion | 2.728 billion |
Target | 2.732 billion |
Latest Stories
-
President Akufo-Addo extends Easter Greetings to Ghanaians, urges safe drive
31 mins -
Government pushes for use of more local materials in housing, other infrastructure projects
1 hour -
Dr Bawumia extends Easter greetings to Christians
1 hour -
CAF Confederation Cup: ‘Ghanaians should expect victory against Stade Malien’ – Dreams FC forward Ishmael Dede
2 hours -
CAF Confederation Cup: ‘We want to go there and win’ – Karim Zito on Stade Malian clash
2 hours -
Togbe Adzie Lãkle Howusu XII endorses youth leadership as New Force Movement gains momentum
3 hours -
Public Utility Workers Union appeals to PURC to address power crisis
3 hours -
Anbariya loses another appeal in Kumasi as Appeal Court ratifies High Court ruling against the Islamic Institute
3 hours -
Highway construction health hazard: Ofankor-Pokuase-Nsawam residents appeal for dust relief
3 hours -
SuperJazzClub releases its first single of the year ‘Off’
4 hours -
Methodist Church to lobby Akufo-Addo for expedited assent to anti-LGBTQI+ Bill
4 hours -
Spare health facilities from unplanned ‘dumsor’ – Minority to government
4 hours -
Eritrea Observed World Tuberculosis (TB) Day 2024
4 hours -
Just give us ‘dumsor’ timetable to plan our operations – GMA tells ECG
4 hours -
Parliament petitions Chief Justice for an expedited hearing of cases against anti-LGBTQI+ Bill
4 hours