Government recorded a 37.3% oversubscription of Treasury bills sale for the second week running, as the short term securities market remain the only source of borrowing.
However, interest rates still remain high at about 35%.
According to the auction results, government secured a total of ¢1.95 billion from the 91-day and 182-day T-bills.
Majority of the bids came from the 91-day Treasury bills. All the ¢1.571 billion bids tendered were accepted.
For the six months bill, ¢382.37 million were tendered, with all the bids accepted.
Interest rates, however, continued to remain high though not surprising because it is coming on the back of an increase in the Bank of Ghana’s policy rate to 28%.
Whilst the yield on the 91-day bill went for 35.74%, higher than the previous week’s 35.71% that of the 182-day T-bill was sold for 35.81%, compared to 35.75% previously.
With the deadline of the Domestic Debt Exchange Programme expected to end tomorrow February 7, any success will therefore impact positively on the domestic financial markets.
|Securities||Bid tendered (GH¢)||Bids Accepted (GH¢|
|91-Day||1.571 billion||1.571 billion|
|182-Day||382.37 million||382.37 million|
- ECG releases load shedding timetable for March 30 to April 7
- TikToker Ahuofe ‘Ghana Tupac’ dead
- Chief of Mujipe shot dead, son in critical condition
- Social media users react to TikToker Ahoufe’s death
- Larabanga Accident: Level 200 student dead, 3 others in critical condition
- BoG denies introduction of ¢500 coin, note
- Where’s the so-called excess capacity? – John Jinapor quizzes government over load shedding timetable
- Proposed taxes are draconian – Seth Terkper
- We will resume picketing if government fails to honour payment in 2-weeks – Pensioner bondholders
- Adom FM climaxes Ghana Month celebrations with splendid cultural durbar
- We need a hospital built purposely for Members of Parliament – Henry Quartey
- North Dayi District Assembly committed to improving livelihoods of PwDs – DCE
- High Court issues bench warrant for Savelugu MP
- Enterprise Group PLC appoints Keli Gadzekpo as Group Chairman
- We hope our colleagues will help pass the 3 tax measures – Oppong Nkrumah
- Justice system has not worked for Gyakye Quayson, Assin North constituents – Mahama
- Oscar Pistorius parole bid collapses in South Africa
- This Saturday on Newsfile
- Health officer in court for allegedly defiling two teenagers at Nkwanta
- Gbewaa College incurs over GHȻ7k debt weekly to feed teacher trainees – Principal
- GAEC partners EU, IAEA UNICRI to fight organised criminal activities
- What are we on earth for? – Henry Quartey mourns death of Kumawu MP
- Online safety: Fund seeks applicants for grant awards
- Music producer Kaywa loses mother
- The Multimedia Group’s Adom brand ends Ghana month with colourful cultural display