Interest rates for 91-day bills stand at 30%
The government is seeking to borrow GH¢6.001 billion in its treasury bills auction on January 24, 2025.
For the third consecutive week, the government recorded a massive oversubscription in its treasury bills auction held on January 17, 2025.
The auction received total bids amounting to GH¢8.839 billion, exceeding the target of GH¢6.353 billion by GH¢2.486 billion.
According to results released on January 20, 2025 by the Bank of Ghana, the government secured GH¢5.688 billion for the 91-day bill, accepted GH¢1.318 billion for the 182-day bill, and GH¢1.883 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.
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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