Audio By Carbonatix
The government missed its ambitious treasury bills target by a whopping GH¢2.670 billion.
According to auction results from the Bank of Ghana, the government recorded an undersubscription of 35.90% from the sale of short-term instruments.
The government was seeking to raise an ambitious GH¢7.438 billion to settle maturing debt and finance projects.
However, it only managed to raise 64.1% of the total targeted amount.
All the bids submitted for the short-term instruments were accepted.
About GH¢2.59 billion came from the 91-day T-bills, representing 54.5% of the total bids.
It was followed by the 364-day bill with an estimated GH¢1.33 billion of the bids tendered.
A little over GH¢830 million were mobilised from the 182-day bill.
Meanwhile, interest rates surged across the yield curve.
The yield on the 91-day bill was up by 63 basis points to 25.64%.
The 182-day bill also increased to 26.92% from the previous week’s 26.81%. That of the 364-day bill inched up by 66 basis points to 28.67%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.598 billion | 2.598bn |
| 182 Day Bill | ¢ 830. 28 million | ¢ 830. 28 million |
| 364 Day Bill | 1.338 billion | 1.338 billion |
| Total | 4.767 billion | |
| Target | 7.438 billion |
Latest Stories
-
Two babies die in incident at unlicensed Jerusalem daycare centre
4 minutes -
Bawumia faces fresh questions over consistency, electoral logic and economic silence
12 minutes -
‘Europe is at a total loss’: Russia gloats over Greenland tensions
22 minutes -
MMDCEs urged to clamp down on rogue drivers, mates over unapproved transport fares
25 minutes -
Curfew renewed in Nkwanta amid security concerns
27 minutes -
From Accra to the UN: How Ghana is leading Africa’s new “Decade of Reparations”
30 minutes -
Italian fashion designer Valentino dies aged 93
31 minutes -
Illicit arms more dangerous than drugs – Dr Adam Bonaa
51 minutes -
Local expertise is the new reality of the African iGaming market
54 minutes -
Italian fashion designer Valentino dies
1 hour -
Gold and silver prices hit high after tariff threat
1 hour -
Bryan Acheampong takes NPP flagbearer tour to Eastern Region, pledges unity and discipline
1 hour -
Responsive brands: Making brand loyalists out of customers
1 hour -
UTAG-UG demands resignation of GTEC bosses over ‘incompetent, administrative overreach’
1 hour -
Automated sampling removed bias in NPP delegate survey – Dr Evans Duah
1 hour