The Bank of Ghana’s headquarters
The Bank of Ghana (BoG) has raised GH¢10.37 billion from the sale of 56-day bills in its latest short-term debt auction held on July 28, 2025, as it continues efforts to manage liquidity and support fiscal operations.
According to auction results published by the Central Bank, the yields on the securities ranged widely, with bid rates between 7.90% and 21.28%.
The weighted average discount rate settled at 10.94%, while the corresponding interest rate was 11.13%.
The tender, which attracted significant investor interests, saw bids allotted in full within a narrower band of 7.90% to 19.41%, suggesting strong demand for government securities.
The issuance forms part of the Central Bank’s liquidity management operations and short-term debt strategy to refinance maturing obligations and smoothen cash flow for the Treasury.
The results come amid an improving fiscal outlook and enhanced investor confidence, buoyed by the IMF-supported programme of Ghana’s $3 billion ECF arrangement.
The next auction is expected to further test market appetite as the government navigates its short-term borrowing strategy under a constrained fiscal space.
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