According to the auction results from the Central Bank, the government secured GH¢3.35 billion from the 91, 182, and 364-day treasury bills.
This is GH¢590.49 million away from its GH¢2.759 billion target.
The majority of the subscriptions were from the 91-day bill which secured GH¢2.07 billion and GH¢398 million from the 182-day bill and GH¢875.68 million from the 364-day bill.
The interest rates however hovered around 35.8%.
Even though the interest rates are high and may be good for investors, this may cost the government more when they mature.
Meanwhile, the Ministry of Finance has announced that over 80% of local bondholders signed on to the government’s Domestic Debt Exchange Programme (DDEP).
This was disclosed in a statement by the ministry announcing the closure of the programme on February 14, 2023.
“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds. The government wants to thank the people of Ghana for their forbearance and support throughout the very difficult times,” the statement said.
But pensioner bondholders have picketed the Finance Ministry to demand a total exemption from the debt exchange programme.
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Treasury bills