In June 2023, the government successfully raised GH¢10.50 billion through treasury bills, although the subscriptions were lower compared to the previous month’s auctions, which garnered GH¢11.26 billion.
The total bids fell short of the set target of GH¢11.53 billion. T
he economy showed signs of stability, according to the International Monetary Fund’s initial assessment. Interest rates have been steadily increasing, reaching nearly 26% at present.
However, the recent auction fell short of the target by 17%. The Bank of Ghana stated that the target included a sell buy-back of GH¢1.01 billion, which will mature and be rolled over on July 6, 2023.
Interest rates for the 91-day bill stood at 23.95%, while the 182-day bill reached 25.79%. In the next auction, the government anticipates raising GH¢1.57 billion through the 91-day bill, 182-day bill, and 364-day bill.