The Treasury fell almost 24% short of the goal – BoG

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

According to the auction results by the Bank of Ghana, the Treasury missed the target by about 24%.

Analysts believe investors prefer the Bank of Ghana bills, which offer a rate of 27% higher than the inflation rate 18.4%.

The Treasury got GH¢3.379 billion as against a target of GH¢4.551 billion. It, however, accepted GH¢2.952 billion.

The majority of the bids came from the 91-day bill, with investors offering GH¢62.418 billion. This represented 71.55% of the total bids. 

The government, however, accepted GH¢2.191 billion of the bids. For the 182-day bill, investors tendered only GH¢ 716.29 million.

The uptake was GH¢ 603.74 million. For the 364-day bill, investors tendered only GH¢ 236 million while only GH¢157.76 million was accepted. 

Source: newsthemegh.com