Government to issue GH¢61 billion in Q1 2024; rollover GH¢41.4 billion in short-term maturities

The Government of Ghana plans to issue a gross amount of GH¢61 billion in treasury bills between January and March of the first quarter of 2024.

According to the Central Bank, some GH¢41.4 billion of this amount will be used to roll over short-term maturities while the remaining GH¢19.7 billion will serve as fresh issuance to meet financing requirements.

In a notice issued to primary dealers, banks, stockbrokers, and the general public, the Bank of Ghana said the government aims to meet its financing needs by issuing treasury bills.

These include 91-day, 182-day, and 364-day bills, which will be issued weekly. This will be done through the primary auction, with settlement being the transaction date plus one working day.

“Government expects that this January to March 2024 Calendar meets the requirements of market participants,” the notice added.

Meanwhile, a new peak in refinancing needs is expected around mid-year 2024.

Since the country's economic headwinds, the government has had to resort to issuance of treasury bills to meet its financing needs.

MA

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