T-bills: Government borrows GH¢2.33 billion at 30% interest rates

The government secured GH¢2.33 billion in the sale of its short-term securities on July 31, 2023.

According to the auction results, the government surpassed its target slightly by GH¢52.77 million.

All the bids tendered were accepted for the 91-day, 182-day, and 364-day bills.

The target for the auction was GH¢2.28 billion.

According to the results from the Bank of Ghana, interest rates have increased to 30.3% for the 364-day bill. Whereas from the 91-day and 182-day bills, interest rates have increased to 25.24% and 27.14% respectively.

The 91-day bill saw a total subscription of GH¢1.49 billion, GH¢503.53 million was accepted from the 182-day bill and GH¢337.85 million was accepted from the 364-day bills.

The government expects to borrow GH¢2.261 billion from its next auction.

SSD/DA

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