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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government has set a target of GH¢4.77 billion for its upcoming T-Bill auction, reflecting an 11.11% reduction from last week’s target of GH¢5.31 billion.
This decision comes in response to a significant undersubscription of 37.45% in the previous auction for the 91-day, 182-day, and 364-day bills.
The GH¢4.77 billion in debt to be issued on Friday, July 26, is intended partly to cover upcoming maturities of T-Bills valued at GH¢3.85 billion.
Last week’s auction by the Central Bank aimed to raise GH¢5.31 billion but received only GH¢3.86 billion in bids, falling short by GH¢1.44 billion.
Despite this shortfall, the Central Bank accepted 100% of the bids submitted.
Source: newsthemegh.com