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Government is expecting to borrow a total of GH¢12.7 billion from treasury bills in January 2024 to finance maturing bills.
This is expected to be derived from the 91, 182, and 365-day bills.
The 91-day and the 364-day yields as of December 2023 were cut by 14 basis points and 74 basis points month-on-month to 29.4% and 32.5% respectively while the 182-day yield gained 19 basis points to 31.9%.
In December 2023, government borrowed GH¢94.4 billion to finance its expenditure. This included GH¢31.8 billion buffer for auction shortfalls.
Meanwhile, government raised an amount of GH¢3.223 billion in the first auction of 2024.
This represented 15.24% more than the targeted amount.
Despite the high rates, the government has witnessed oversubscriptions in the past months except in a few instances where it saw slight undersubscriptions.
SA/NOQ
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