The government will borrow ¢3.33 billion from the treasury market on Friday May 12, 2023, to partly refinance maturities worth ¢2.31 billion.
Joy Business understands that part of the ¢3.33 billion will be used to settle coupon payments of the pension bondholders.
The amount which will be the biggest so far this year will be issued via the 91-day, 182-day and 364-day Treasury bills.
Analysts perceive investors bidding higher yields on liquidity squeeze, as inflation data for April 2023 is expected to be release on May 10, 2023.
But the $750 million loans approved by the Parliament of Ghana last week may help slow down the rise in money market yields.
However, the cost of borrowing remains a concern to many analysts and market watchers.
The T-bill auction on Friday, May 5, 2023, was oversubscribed, as the treasury raised ¢2.57 billion, exceeding the gross target by 40.01%.
According to the auction by the Bank of Ghana, the government accepted a significant ¢2.56 billion from the bids submitted by the investors, largely the banks.
Yet again, majority of the bids came from the 91-day T-bills as ¢1.62 billion were tendered. All the bids were consequently accepted.
Also, almost all the ¢380.75 million of bids submitted for the 182-days T-bills were accepted.
Latest Stories
-
Pepsodent champions with #TalkToADentist initiative at World Oral Health Day 2024
2 mins -
Otumfuo holds mega food fair for queen mothers
2 mins -
ACEP supports ECG privatisation to make its operations efficient
24 mins -
Only the Energy Minister can authorise publication of load-shedding timetable – Osafo-Maafo
25 mins -
Joyce Bawah Mogtari: Why Naana Jane
26 mins -
CAF Confederation Cup: Dreams FC announce free gate for Zamalek second leg clash
27 mins -
Court issues arrest warrant for former MASLOC CEO Sedina Tamakloe
40 mins -
Yorktown FC to conduct talent scouting on June 1
41 mins -
Rising from the Ashes: Jonina Ladies’ remarkable turn under Joseph Osei Owusu
51 mins -
Mrs. Stella Dovlo (Nee Agbanyo)
1 hour -
aYo Ghana wins 3 laurels at Ghana Finance Focus Awards
1 hour -
NPP has lost its values – Hanson Dartey
1 hour -
Erastus Asare Donkor advocates for policies to curb illegal mining in Ghana
1 hour -
Tunisian coast guard retrieves bodies of 19 migrants
1 hour -
Bahamas 2024: Paul Amoah, Azamati lead Ghana quartet for World Relays
2 hours