Government records first T-Bills oversubscription in a month

The government has recorded an oversubscription of its treasury bills auction for the first time in a month.

According to auction results released by the Bank of Ghana, the sale recorded a marginal 2.81% oversubscription.

The government secured GH¢6.67 billion from the T-bills sale but rejected GH¢121.7 million worth of bids.

About GH¢5.7 billion was tendered for the 91-day bill, representing 84.4% of total bids, with GH¢5.67 billion accepted.

For the 182-day bill, GH¢908 million was tendered, and all bids were accepted.

Similarly, a little over GH¢187 million was tendered for the 364-day bill, and all bids were accepted.

Meanwhile, interest rates on the treasury bills continued their downward trend but at a marginal pace.

The yield on the 91-day bill declined by 19 basis points to 15.45%, while the 182-day bill eased to 16.21% from the previous 16.50%.

The interest on the 364-day bill also dropped by 18 basis points to 18.65%.

Meanwhile, the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has reiterated the government’s commitment to the pharmaceutical sector, describing it as not only critical to public health but also a strategic pillar of the country’s industrial transformation agenda.