The government fell short of its objective for Treasury bills.

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

The Government of Ghana failed to meet its treasury bills target for the fourth consecutive week as investors still prefer the Bank of Ghana bills that offer higher returns.

According to the auction results by the Bank of Ghana, the government missed the target narrowly by 5.61%. The Treasury got GH¢3.64 billion as against a target of GH¢3.86 billion.

The majority of the bids came from the 91-day bill, with investors offering GH¢2.869 billion.

This represented 75.04% of the total bids. For the 182-day bill, investors tendered in GH¢616.79 million.

The Treasury accepted GH¢385.82 million. For the 364-day bill, GH¢60.81 million was accepted out of GH¢129 million in bids submitted. Meanwhile, interest rates continued to dip, but marginally on the yield curve.

Source: newsthemegh.com