T-bills oversubscribed by GH¢480 million, interest rates still high

Government secured GH¢2.07 billion from the sale of treasury bills in its latest auction held on April 28, 2023.

Despite increasing interest rates, the auction saw an over-subscription of GH¢483 million.

The subscription surpasses the target of GH¢1.58 billion that was set by the government.

This week, only the 91-day bill and the 182-day bills were subscribed at an interest rate of 19.95% and 22.71% respectively.

According to the auction results from the Central Bank, the government secured GH¢1.53 billion from the 91-day bill and GH¢537.02 million from the 182-day bill.

Treasury bills have become one of Ghana's only source of borrowing after it was shut out of the international capital market.

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