Government exceeds T-bills target after nine weeks of undersubscription

The government has exceeded its treasury bills for the first time in ten weeks after recording undersubscriptions for the past nine weeks.

The government recorded a total of GH¢5.529 billion in its latest auction surpassing its target of GH¢5.400 billion by GH¢129.67 million.

During the auction on September 13, 2024, and issuance on September 16, 2024, GH¢4.698 billion was secured for the 91-day bill.

However, the government accepted GH¢594.37 million for the 182-day bill and GH¢245.74 million for the 365-day bill.

Last week, the government sold a total of GH¢4,849.15 billion.

Interest rates were set at 24.91% for the 91-day bill, 26.80% for the 182-day bill, and 27.07% for the 365-day bill.

According to the Bank of Ghana's results, all bids tendered in this week’s auction were accepted.

Meanwhile, the government has set a target of GH¢5.881 billion for its next auction.

SSD/MA

Watch the latest edition of BizHeadlines below:

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel