Treasury Bills Archives - Page 2 of 2

22 May

Government To Borrow GH¢3.43 Billion From Treasury Bills This Week

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The government is set to borrow GH¢3.43 billion from treasury bills in its weekly auction on May 26, 2023. The target is expected to be generated from the 91, 182, and 364-day treasury bills. The results for the treasury bills auction held on May 19, 2023, have shown that the government missed its auction target narrowly by GH¢3.98 million. According to the results, the government secured GH¢2.72 billion from the sale of treasury bills. The target for the auction was GH¢2.732 billion. The majority of the subscriptions came from the 91-day bills which received GH¢2.01 billion at an increased interest…

10 Apr

Treasury Bills Oversubscribed By GH¢116 Million Despite Negative Returns

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The government's treasury bills saw an oversubscription in its latest auction on April 6, 2023. The short-term bills saw an oversubscription of GH¢116.02 million away from the set target of GH¢1.76 billion. Even though interest rates remain low, the patronage of Treasury bills has seen oversubscriptions in recent times. The reduction in interest rates has lowered the government's cost of paying maturities but returns for investors still remain negative as inflation rates are still very high - over 50%. This week, all the instruments, i.e 91,182, and 364-day bills were purchased. However, the 91-day bill saw the highest subscriptions with…

12 Dec

Government Records ¢3.15bn From T-bills Sale As Interest Rates Fall

wontumionlineBusinessAuction, BoG, Interest rates, Treasury Bills

Following the exemption of Treasury bills from the domestic debt exchange programme, investor interest in the short-term securities continue to rise sharply. This is coming after the government recorded about 73% oversubscription of T-bills sale. According to auction results from the Bank of Ghana, the government obtained a total of ¢3.15 billion from the Treasury bills sale that took place on Friday, December 9, 2022. This shows that demand for the money market instrument is soaring. Though a chunk of the transaction came from the 91-day T-bill, the 182-day bill also recorded some significant sale. This clearly shows that investor…

05 Dec

Investor Interest In Treasury Bills Soar Despite Debt Restructuring Programme

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Investor interest in Treasury securities inched up significantly despite the expected announcement of a debt restructuring programme by the government. Government treasury bills sales grew by 49.3% week-on-week, as it got ¢2.76 billion during the last auction Thursday, December 2, 2022. This is the third week running that the government T-bills have been oversubscribed. Following the announcement of ‘haircut’ for government bonds, investors are now migrating to short-term securities, hence the growing interest. For the first time in several months, the 182-day T bills also recorded huge participation as bids tendered were estimated at ¢519.87 million. ¢502.01 million was however…

29 Sep

T Bills, Short-Term Securities Will Not Be Affected By Ghana’s Debt Restructuring – US-Based Associate Professor

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Treasury bills and short-term securities will not be affected by the expected debt restructuring programme that the Government of Ghana will undertake after the completion of the Debt Sustainability Analysis by the International Monetary Fund and the World Bank. According to Associate Professor of Finance at Andrews University, Michigan, USA, Dr. Williams Peprah, the focus of the Debt Sustainability Analysis will be on long term bonds or securities. He added that the International Monetary Fund is likely to swap or take care of Ghana’s Eurobonds due in the next four years as part of the debt restructuring programme. A total…

28 Sep

Ghana Maintains Highest Interest, Lending Rates Position In Africa

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Ghana maintained its highest interest rates, lending rates position among some top African countries, tracked by Pan African bank, Absa Group and Databank Research. According to the data, the country’s 30.1% and 31.3% interest rates on the 91-day and 182-day Treasury bills respectively are also among the highest globally. Again, average lending rates hovering around 35%, ranks Ghana among the highest on the continent T-Bill rates are likely to go up in the coming weeks to compensate investors for the rising inflation. The rates in the country are presently lower than the inflation rate of 33.9%. This will again push…