Government raised GH¢6.86 billion via treasury bills, the biggest so far this year.
According to the latest T-bills auction by the Bank of Ghana, the government recorded 51.8% oversubscription of the T-bills sale. The target for the auction was GH¢4.58 billion.
About GH¢3.04 billion, approximately 43.7% of the total subscription came from the 91-day bill. The uptake was GH¢2.93 billion.
The 364-day bill followed with GH¢2.28 billion of the bids tendered. All of the bids were however accepted.
For the 182-day bill, GH¢1.62 billion were tendered in which all the bids were taken.
Meanwhile, interest rates fell again for the sixth week since the beginning of the year.
The 91-day bill went down by 30 basis points to 28.29%.
That of the 182-day bill also eased to 30.43% from the previous 31.39%.
The one-year bill also dropped to 30.99% from the preceding week’s 31.39%.
Government to borrow GH¢180 billion via treasury bills
The government would borrow about GH¢180 billion via treasury bills in 2024.
This will be 21% more than GH¢149.92 billion raised in 2023.
The estimated maturities are GH¢150 billion, a growth of 28.0% over that of last year.
The government is also expected to raise more than 50.0% of the GH¢61.9 billion budget deficit through treasury bills.