Government to borrow GH¢6.67 billion from T-bills this week

The government intends to borrow GH¢6.67 billion through treasury bills in its next short-term debt sale scheduled for Friday, April 11, 2025.

In the previous auction held on Friday, April 4, 2025, the government rejected bids totaling GH¢2.36 billion out of the GH¢4.05 billion tendered for the 91-day, 182-day, and 364-day bills.

The total amount tendered fell short of the government’s target of GH¢4.39 billion by approximately GH¢334 million.

Of the total bids received, the government accepted GH¢1.69 billion, rejecting the remaining GH¢2.36 billion.

The 91-day bill saw the highest demand, attracting GH¢3.38 billion in bids, of which GH¢1.44 billion was accepted.

The 182-day and 364-day bills recorded bids of GH¢501 million and GH¢176 million, with the government accepting GH¢81 million and GH¢161 million, respectively.

Yields on the 91-day bill declined by 7 basis points to 15.64%. The 182-day bill saw the largest drop, declining by 23 basis points to 16.50%, while the 364-day bill decreased by 1 basis point to 18.83%.

The rejection of a significant portion of the bids indicates that the government remains cautious about borrowing costs despite its ongoing financing needs.

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SSD/MA