Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana failed to meet its treasury bills target for the second week running.
According to auction results by the Bank of Ghana, the government’s T-bills were undersubscribed by nearly 30%.
The Treasury received a little over GH¢3 billion, compared to a target of GH¢4.24 billion. The majority of the bids came from the 91-day bill.
A little over GH¢2.0 billion, representing 68.4% of the bids, was tendered for the 3-month bill.
The uptake was GH¢2.02 billion. For the 182-day bill, GH¢678.18 million of the bids were tendered.
The bids accepted were estimated to the tune of GH¢537.69 million.
Also, GH¢272.58 million was tendered for the 364-day bill. About GH¢167 million was accepted.
Meanwhile, interest rates were, however, mixed on the yield curve.
Source: newsthemegh.com