The government’s latest treasury bill auction fell significantly short of its target, missing by a whopping GH¢2.671 billion. Apexnewsgh reports
The Bank of Ghana’s results revealed an undersubscription of 35.9%, with only GH¢4.767 billion raised out of the desired GH¢7.438 billion. The funds were meant to cover maturing debt and finance key projects. Interestingly, all bids were accepted, with 91-day treasury bills making up the bulk (54.5%) at GH¢2.59 billion.
The 364-day and 182-day bills contributed GH¢1.33 billion and GH¢830 million, respectively. Meanwhile, interest rates saw a notable increase across the board.
Rates for the 91-day bill jumped 63 basis points to 25.64%, while the 182-day bill ticked up to 26.92%. The 364-day bill saw the largest rise, climbing 66 basis points to 28.67%.
Source: Apexnewsgh.com/Ghana/Climate Change/ Ngamegbulam Chidozie Stephen
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