Source: newsthemegh.com
Approximately GHS 2,692 million was raised as credit from investors to the government through the auction of the 91-, 182-, and 364-day Treasury bills held by the Bank of Ghana (BoG) on behalf of the government.
Against a GHS 2,152 million planned auction aim, GHS 2,692 million was secured.
The government exceeded its aim by GHS 540 million when it accepted the GHS 2,692 million bids that were made.
For the 91-day and 182-day periods, a total of GHS 2,033m and GHS 517m offers were offered, with the government accepting bids totaling GHS 2,020m and GHS 439m, respectively.
A total of GHS 311 million was tendered for the 364-day bill, and the government accepted bids totaling GHS 233 million for the debt security.
However, this resulted in higher interest rates for the government, which raised costs.
The interest rates on the T-Bills maturing on 91, 182, and 364 days were 29.9%, 32.1%, and 33.7%, in that order.
To cover its short-term financial needs, the government will be looking to raise approximately GHS 3,105 million through the issuing of the 91-day, 182-day, and 364-day Treasury bills on November 10, 2023.
