On behalf of the government, the 91, 182, and 364-day t-bill auction by the Bank of Ghana (BoG) saw some GH¢2,895 million mobilized as credit from investors to the government.
The secured GH¢2,895 million was against a programmed auction target of GH¢2,282 million.
In accepting the GH¢2,895 million bids tendered, the government exceeded its target by GH¢613 million.
GH¢2,446m and GHS 402m bids were tendered for the 91-day and 182-day with the government accepting bids amounting to GH¢2,436m and GHS 391m respectively.
For the 364-day bill, a total of GH¢235m was tendered with the government accepting bids worth GH¢68m tendered for the debt security.
This, however, came at an increased cost to the government in the form of higher interest rates.
Interest rates on the 91, 182, and 364 days T-Bill auction were 29.7%, 31.6%, and 33.3% respectively.
Meanwhile, in the upcoming issuance of the 91-day, 182-day, and 364-day treasury bills on October 27, 2023, the Government will seek to secure some GHS 2,238m in fresh funding to meet its short-term financing needs.