The Treasury borrowed GHS 16.34 billion via Treasury bills in December 2023.
This is about 6.62% more than that borrowed in November 2023.
The GHS 16.34bn borrowed in December was to refinance matured bills worth GHS 12.83 billion. The excess uptake was also used to cover other budgetary needs of the Central Government.
Investor demand for T-bills remained robust in December 2023, as the treasury received bids of GHS 16.35 billion versus a combined target of GHS 16.12 billion.
Yields saw mixed performance on a month-on-month basis, with the 91-day bill declining to 29.36%, while the 182-day advanced to 31.95%.
The 364-day yield also recorded a 74 basis points decline to 32.49%.
Analysts anticipate high auction uptakes in January 2023 to present upside pressures to T-bill yields, though continued disinflation may slow the rise.
The treasury received bids totaling GHS 4.21 billion in the last auction for 2023 against an auction target of GHS 4.08bn.
The government accepted all bids, with the uptake exceeding the week’s refinancing obligation by 65%.