Government fell short of its aim for Treasury bills since the money market’s liquidity remained constrained.

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

For two consecutive months, the government missed its target for treasury bills as liquidity remained tight on the money market.

According to auction results from the Bank of Ghana, the government’s target fell by 991.61 million.

The target for the auction was GH¢5.088 billion, but the government got GH¢4.094 billion.

Some analysts have attributed the shortfall by some banks’ preparation to shore up their capital. All the bids tendered for the short-term securities were accepted.

The uptake for the 91-day bill was GH¢2.532 billion, representing 61.84% of the total bids.

The bids tendered for the 182 bids were estimated at GH¢1.357 billion.

Source: newsthemegh.com