T-bills massively undersubscribed; interest rates at 29.8%

The government has recorded an undersubscription in its latest treasury bills auction.

This is the first time in three weeks that the government has recorded a shortfall after it set an ambitious target of GH¢6.413 billion.

The government recorded GH¢3.835.93 billion in the auction on November 29, 2024.

Per the results issued on December 2, 2024, GH¢2.949.98 billion for the 91-day bill.

However, the government accepted GH¢669.37 million for the 182-day bill and GH¢216.58 million for the 365-day bill.

Last week, the government sold a total of GH¢6.413.04 billion.

Interest rates were set at 27.36% for the 91-day bill, 28.09% for the 182-day bill, and 29.87% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing since it no longer has access to the international capital market.

Meanwhile, the government wants to borrow GH¢6.491 billion in this week's auction.

SSD/MA

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