For the second consecutive week, the government has missed its treasury bill target.
Data from the Bank of Ghana’s latest auction reveals that although the government received GH¢5.471 billion in bids, it rejected GH¢1.095 billion—largely to manage and reduce debt servicing costs.
The government had aimed to raise GH¢6.669 billion through this round of short-term borrowing.
As in previous auctions, the 91-day treasury bill attracted the highest interest, drawing GH¢3.507 billion in bids, which accounted for 64.07% of total subscriptions.
For the 182-day bill, investors submitted bids worth GH¢1.806 billion, out of which GH¢1.674 billion was accepted.
The 364-day bill received GH¢157.18 million in bids, but only GH¢48.44 million were accepted.
Interest rates fell on both the 182-day and 364-day bills, in line with the government’s ongoing efforts to reduce borrowing costs. The 182-day rate dropped by 3 basis points to 15.45%, and the 364-day rate decreased by 12 basis points to 15.71%. The 91-day rate remained steady at 14.79%.
