Gov’t misses T-bills target by GHS 700m as yields remain stable

The recent sale of weekly treasury bills to domestic investors fell short of its target by approximately GHS 700 million, reflecting an undersubscription.

The government aimed for GHS 4.78 billion but secured only GHS 4.06 billion.

This shortfall is attributed to the government’s strategy to keep yields stable, thereby reducing the cost of servicing debt.

The 91-day bill attracted GHS 2.4 billion, lower than the previous week's GHS 2.9 billion.

The 182-day bill saw GHS 1.18 billion in bids, while the 364-day bill had GHS 477 million accepted.

Analysts suggest the high auction target contributed to the undersubscription. Moving forward, the government plans to lower its borrowing target to GHS 3.86 billion.

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