This past Friday, April 10, 2026, the Ghanaian government failed to meet its ambitious GHC5.57 billion objective in the domestic Treasury bill market, continuing its run of undersubscriptions.
After three weeks of low attendance, investor appetite remained cautious despite efforts to increase liquidity across three tenors.
Investor bids totalled GHC5.31 billion, somewhat less than the GHC7.57 billion auction aim.
The government fell short of its borrowing target by about GHC259.71 million, or 4.66 percent.
With GHC4.44 billion in bids, the 91-Day Bill continued to be the most sought-after instrument. The government accepted GHC4.43 billion at a yield of 4.91 percent.
The government accepted all of the GHC521.96 million in proposals made for the 182-Day Bill at an interest rate of 6.77%.
The administration, on the other hand, exercised considerable caution in accepting less than half of the bids for the 364-Day Bill.
Despite a higher yield of 9.97 percent, the government accepted GHC162.59 million instead of the GHC348.94 million that was offered.
The auction’s subscription rate was 95.34%.
The undersubscription rate was 4.66%, while the acceptance rate was 96.29%.
According to market observers, given the state of the economy, the government might be hesitant to lock in higher interest rates for extended periods of time.
Source: newsthemegh.com