The government borrowed GH¢15.71 billion via treasury bills in May 2024, about 7% higher than April 2024.

In April 2024, the government received GH¢15.60 billion from the short-term securities.

The fresh borrowings were estimated at GH¢966.48 million.

The yields, however, remained on the downward drift.

The 91-day and 182-day declined by 45 basis points and 70 basis points to 25.10% and 26.95% respectively.

On the other hand, the 364-day yield eased by 30 basis in May to close at 27.95%.

Analysts expect yields to maintain the downward trend on a positive inflation outlook.

However, they believe the decline may be slower than expected due to higher targets and the delay in policy rate cut.