T-bills undersubscribed by GH¢1.29 billion; interest rates at 29.9%

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

This is the second time this month that the government has fallen short after setting an ambitious target of GH¢6.419 billion.

The government received GH¢5.199.67 billion in the auction on December 6, 2024.

According to the results released on December 9, 2024, GH¢3.007.61 billion was allocated for the 91-day bill.

However, the government accepted GH¢1.832.51 billion for the 182-day bill and GH¢359.55 million for the 365-day bill.

Last week, the government raised a total of GH¢3.835.93 billion.

Interest rates were established at 27.60% for the 91-day bill, 28.31% for the 182-day bill, and 29.90% 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 aims to borrow GH¢6.848 billion in this week's auction.

SSD/MA

Watch highlights of Mahama's speech below