27 January 2025
The government recorded 47.5% oversubscription of treasury bills auction, the 4th consecutive time this year.
According to data from the Bank of Ghana, the government got GH¢8.855 billion as against a target of GH¢6.0 billion.
About GH¢4.896 billion came from the 91-day. The government however accepted GH¢8.163 billion.
A chunk of the funds will be used to finance maturing bills.
bill, representing 56.30% of total bids submitted.
However, GH¢4.479 billion were accepted.
The 182-day bill also witnessed bids worth GH¢1.758 billion tendered. About GH¢1.756 billion were accepted.
The 364-day bill received bids more than the 182-day bill with about GH¢2.110 billion tendered. GH¢1.927 billion were however accepted.
Meanwhile, the rising interest rates continued unabated, raising further concerns of the increasing cost of interest payments.
Source: Joy business