The government will seek to borrow ¢1.67 billion from the treasury market this week.
This will be done via the issuance of the 91-day, 182-day and 364-day Treasury bills.
The uptake as usual will be partly used to refinance maturing bills worth ¢1.59 billion.
The government presently is in talks with external creditors to restructure its bilateral debt.
Analysts believe the financing assurances from external creditors will strengthen investor confidence and improve demand for treasury securities.
Last week, the government almost accepted all bids for the T-bills auction and raked in ¢1.86 billion out of total bids of ¢1.88 billion.
The proceeds surpassed the target amount of ¢1.77 billion.
However, interest rates rose marginally again as government recorded a slight oversubscription of its T-bills sale.
The rising rates was in tandem with the recent policy rate increase by the Central Bank.
The auction results showed that the yield on the 91-day T-bill went up by 0.31% to 19.69%, whilst that of the 182-day T bill increased to 22.24%, from 21.85% the previous week. The rate on the 364-day T-bill also surged to 26.95%.
Latest Stories
-
Walt Disney appoints ‘Moana’ writer Jared Bush as creative head of animation studios
2 hours -
Macy’s to hire more than 31,500 employees for holiday season
2 hours -
Putin says Russia is ramping up drone production tenfold
3 hours -
Huawei’s $2,800 tri-fold phone hits stores amid supply concerns
3 hours -
Hershey Co lays off some workers this week
3 hours -
FedEx quarterly profit disappoints as demand for speedy delivery wanes
3 hours -
France nears new government as Barnier proposes cabinet to Macron
4 hours -
Husband of Russia’s richest woman arrested on murder charge after office shootout
4 hours -
Accused in France’s mass rape trial apologises to Gisele Pelicot
4 hours -
Mild weather brings surge in migrant crossings to Spain’s Canary Islands
4 hours -
Putin ally warns West of nuclear war over Ukraine
4 hours -
Kentucky sheriff held over fatal shooting of judge in court
4 hours -
Ousted president quits Gabon politics, calls for wife’s release
5 hours -
‘Mining revenues stay in Accra, not mining communities’ — Chamber of Mine CEO criticises distribution
5 hours -
Pope Francis allows devotion to Medjugorje, where Virgin Mary said to appear
5 hours