The government failed to achieve its Treasury bills target despite receiving the first tranche of the $3 billion International Monetary Fund bailout package on May 19, 2023.
It was expected that investor confidence will soar, but that was not the case.
According to the auction results by the Bank of Ghana, the government received ¢2.72 billion from the sale of the short-term financial instruments, slightly lower than the targeted amount of ¢2.73 billion.
The majority of the bids came from the 91-day T-bill as a little above ¢2.01 billion were tendered. All the amount was accepted.
Also, about ¢712 million were offered from the investors for the 182-day bill, which all the bids were received.
There were expectations that interest rates will fall, following the $600 million credited to the Bank of Ghana account. However, it wasn’t so.
The yield on the 91-day T-bill went up to 20.56%, from 20.43%. That of the 182-day bill also inched up by 0.39% to 23.35%.
| Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
| 91 Day Bill | 2.015 billion | 2.015 billion |
| 182 Day Bill | 712.75 million | 712.75 million |
| Total | 2.728 billion | 2.728 billion |
| Target | 2.732 billion |
Latest Stories
-
NAPO commissions library to honour Atta-Mills’ memory
10 mins -
OmniBSIC Bank champions health and wellness with thriving community walk
12 mins -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
16 mins -
NDC supports Dampare’s ‘no guns at polling stations’ directive
19 mins -
Police officer interdicted after video of assault goes viral
36 mins -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
37 mins -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
1 hour -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
1 hour -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
1 hour -
Mr Daniel Kofi Asante aka Electrician
1 hour -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
2 hours -
Election 2024: Engagement with security services productive – NDC
2 hours -
Retain NPP for the good of Ghana – Rebecca Akufo-Addo
2 hours -
‘Let’s work together to improve sanitation, promote health outcome’ – Sector Minister urges
2 hours -
Ellembelle MP cuts sod for six-unit classroom block at Nkroful Agric SHS
2 hours