The government missed its ambitious treasury bills target by 16.81%.
According to the auction results by the Bank of Ghana, the government secured GH¢5.180 billion as against a target of GH¢6.228 billion.
This auction is coming after a private legal practitioner filed an application at the Supreme Court to stop the government from issuing T-bills.
The results showed that all the bids were accepted.
The majority of the bids came from the 91-day bill where GH¢3.942 billion, representing 76.1% of the total bids were tendered.
About GH¢653.43 million were however tendered for the 182-day bill.
Similarly, the 364-day bill saw an offer of a little over GH¢584 million.
Meantime, interest rates went up for the fourth consecutive week.
However, the rising interest rates will increase the cost of servicing the domestic instruments.
The yield on the 91-day bill was up 14 basis points to 26.96%.
Equally, the interest rate on the 182-day bill increased to 27.78% from 27.67% the previous week.
That of the 364-day bill was also up by 3 basis points to 29.21%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.942bn | 3,942bn |
| 182 Day Bill | 653.43m | 653.43m |
| 364 Day Bill | 584.16m | 584.16m |
| Total | 5.180bn | |
| Target | 6.228bn | |
Latest Stories
-
34,000 new HIV infections recorded in 9 months – Ghana HIV and AIDS Network
13 mins -
Joy FM Family Party in the Park: 2024 edition promises unforgettable experience
18 mins -
Kurt was not my friend – C.K. Akonnor
30 mins -
‘This isn’t the right time to change Otto Addo’ – Black Stars Mgmt. C’ttee member Akwesi Agyeman
52 mins -
Redefining Green: Berock Construction launches one of Africa’s first Nearly Zero-Energy Buildings in Accra
58 mins -
Fans need to show up – Hearts of Oak Aboubakar Ouattara appeals for support
1 hour -
New Force is not a political party, it’s a movement to develop Ghana – Cheddar
1 hour -
MOGMusic billed for Joy FM Prayer Summit for Peace 2024
1 hour -
Fair Trade Ghana Network educates members on EUDR compliance, organic farming, and effective branding and marketing
1 hour -
Node Eight holds 2nd edition of “Young and Loud” Festival in Ho
1 hour -
‘It was a mess!’ – CK Akonnor on player selection process during his time as Black Stars boss
1 hour -
Ghanaians will reward you for your good works – Kumawuhene tells Bawumia
1 hour -
All our children are in school because of Free SHS programme – Chief of Kumawu
2 hours -
Bridging the Legal Divide – Legal Framework for Cybersecurity, Data Protection, Standards and Governance
2 hours -
My constituents “think we shouldn’t return to Parliament” – Murtala Mohammed
2 hours