Government Beats T-Bill Target, Raises GH¢11.4bn on Strong Demand

Government exceeded its borrowing target in the latest Treasury bills auction, raising about GH¢11.4 billion compared with a planned GH¢9.32 billion.

Results released by the Bank of Ghana for Tender 1995, conducted on Friday, February 20, showed robust investor demand across the 91-day, 182-day, and 364-day instruments.

In total, bids worth GH¢25.2 billion were submitted, with the government accepting GH¢11.41 billion.

For the 91-day bill, investors tendered GH¢8.61 billion, of which GH¢3.19 billion was accepted. The 182-day bill attracted GH¢7.22 billion in bids, with GH¢2.45 billion taken up.

The 364-day bill drew the strongest interest, recording GH¢9.38 billion in bids and GH¢5.78 billion accepted.

Weighted average yields settled at 6.45 percent for the 91-day bill, 8.18 percent for the 182-day bill, and 10.21 percent for the 364-day instrument.

Government has set a GH¢5.81 billion target for the next auction, Tender 1996, which will cover the same maturities.

The strong uptake underscores continued investor preference for short-term government securities amid improving macroeconomic conditions and declining interest rates.