Government raised GH¢6.86 billion via treasury bills, the biggest so far this year.

According to the latest T-bills auction by the Bank of Ghana, the government recorded 51.8% oversubscription of the T-bills sale. The target for the auction was GH¢4.58 billion.

About GH¢3.04 billion, approximately 43.7% of the total subscription came from the 91-day bill. The uptake was GH¢2.93 billion.

The 364-day bill followed with GH¢2.28 billion of the bids tendered. All of the bids were however accepted.

For the 182-day bill, GH¢1.62 billion were tendered in which all the bids were taken.

Meanwhile, interest rates fell again for the sixth week since the beginning of the year.

The 91-day bill went down by 30 basis points to 28.29%.

That of the 182-day bill also eased to 30.43% from the previous 31.39%.

The one-year bill also dropped to 30.99% from the preceding week’s 31.39%.

Government to borrow GH¢180 billion via treasury bills

The government would borrow about GH¢180 billion via treasury bills in 2024.

This will be 21% more than GH¢149.92 billion raised in 2023.

The estimated maturities are GH¢150 billion, a growth of 28.0% over that of last year.

The government is also expected to raise more than 50.0% of the GH¢61.9 billion budget deficit through treasury bills.