The government achieved a slight oversubscription in its treasury bill sales after failing to meet its target for three consecutive weeks.
This follows the International Monetary Fund’s approval of the third review of Ghana’s Extended Credit Facility (ECF) Programme, which came after the restructuring of Eurobonds was completed.
The government raised 1.08% above its target of GH¢4.565 billion.
All submitted bids were accepted.
Around GH¢3.88 billion, or 84% of the total bids, were for the 91-day bill.
For the 182-day bill, approximately GH¢500.68 million was tendered, while the 364-day bill saw bids amounting to GH¢225.96 million from investors.
At the same time, interest rates saw a slight uptick across the yield curve.
The yield on the 91-day bill rose by 16 basis points to 25.61%, while the 182-day bill rate increased to 26.90%, up from 26.80% the previous week.
However, the 364-day bill rate dropped by 7.0 basis points to 28.58%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91-Day Bill | 3.887bn | 3.887bn |
| 182 Day Bill | 500.68m | 500.68m |
| 364 Day Bill | 225.96m | 225.96m |
| Total | 4614.47bn | |
| Target | 4.565bn |