For the third consecutive week, the government has recorded a massive oversubscription in its treasury bills auction held on January 17, 2025.
The auction received total bids amounting to GH¢8.839.83 billion, exceeding the target of GH¢6.353 billion by GH¢2.486.83 billion.
According to results released on January 20, 2025, the government secured GH¢5.688.24 billion for the 91-day bill, accepted GH¢1.318.67 billion for the 182-day bill, and GH¢1.883.88 billion for the 365-day bill.
However, not all bids in this week’s auction were accepted.
The interest rates for the latest auction were 28.41% for the 91-day bill, 28.97% for the 182-day bill, and 30.28% for the 365-day bill.
Meanwhile, the government aims to borrow GH¢6.001 billion in this week’s upcoming auction.
Treasury bills have become the government’s primary source of borrowing due to its lack of access to the international capital market.
The new government has assured that plans will be put in place to regain access to the international market and reduce its reliance on domestic borrowing.
SSD/MA
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