Gov’t Misses Treasury Bill Target For The Straight Third Week

The Akufo Addo government missed its Treasury Bill target for the third week straight

According to the auctioning results, the government could not meet its target of GH¢1.135 billion for both the 91-day and 182-day Treasury bills.

A total of 1.003 billion was raised out of a targeted 1.135 billion, a target shortfall of 11%.

All the bids from investors, mostly commercial banks, were accepted.

However, the interest cost of the 91-day T-Bills fell slightly [-0.01%] though that of the 182-day bill went up [0.04%].

Amidst liquidity challenges, the government received GH¢785.92 million worth of bids for its one-year bill.

The interest cost was however 16.52%, higher than the 12.57% and 13.57% for the 3-months and 6-months bills respectively.