T-bills: Government to borrow GH¢2.33 billion this week, narrowly misses target

The government has set a target of GH¢2.33 billion for its treasury bill auction this week.

The government expects to get this from the 91-day, 182-day, and 364-day bills.

According to the results of last week’s auction, the government missed its target slightly by GH¢82.26 million.

The government secured a total of GH¢2.178 billion from the auction.

The target for the auction was GH¢2.26 billion. Interest rates have not reduced in the past few months as the interest rate for the 364-day bill hits 30.4% for the 364-day bill.

Whereas from the 91-day and 182-day bills, interest rates have increased to 25.57% and 27.28% respectively.

The 91-day bill saw a total subscription of GH¢1.38 billion, GH¢649.39 million was accepted from the 182-day bill and GH¢144.62 million was accepted from the 364-day bills.

SSD/NOQ

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