\n
Dr. Ernest Addison<\/strong><\/p>\n\u00a0<\/p>\n
The government of Ghana has exceeded its initial target of raising GH\u00a2 2.10 billion to GH\u00a2 2.57 billion from the debt market in the latest auction of treasury bills with maturities of 192, 182 and 364 days.<\/p>\n
The bids for the 91-day, 182-day, and 364-day T-Bills amounted to GH\u00a22,170 million, GH\u00a2375 million, and GH\u00a280 million, respectively.<\/p>\n
The government accepted bids worth GH\u00a22,155 million, GH\u00a2353 million, and GH\u00a2 67 million for the 91-day, 182-day, and 364-day T-Bills, respectively.<\/p>\n
Interest rates for these T-Bills were set at 29.1%, 31.2%, and 33.0% for the 91-day, 182-day, and 364-day maturities, respectively. On average, the Government\u2019s interest cost on T-Bills currently stands at 31.1%.<\/p>\n
In the previous week\u2019s auction, a similar trend was observed as the government exceeded its target by GH\u00a2510 million, ultimately raising GH\u00a23.09 billion from the debt market.<\/p>\n
Despite the high T-Bill rates, real returns on these short-term debt instruments remain negative, as the rates fall below the prevailing inflation rate of 40.1%.<\/p>\n
Meanwhile, the Bank of Ghana has reported a significant increase in Ghana\u2019s public debt during the second quarter of 2023, rising by approximately GH\u00a26.3 billion.<\/p>\n
This surge has also pushed the nation\u2019s total debt to GH \u00a2575.5 billion, equivalent to around GH $52.3 billion representing a substantial 71.9% of Ghana\u2019s Gross Domestic Product (GDP).<\/p>\n
Further analysis of Ghana\u2019s public debt reveals that the external component reached $29.9 billion (\u00a2328.6 billion) in June 2023, surpassing the April 2023 figure of $29.3 billion (\u00a2321.3 billion).<\/p>\n
In contrast, the domestic debt amounted to \u00a2246.9 billion at the end of June 2023, making up approximately 30.8% of the nation\u2019s GDP.<\/p>\n
\u00a0<\/p>\n
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\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"
Dr. Ernest Addison \u00a0 The government of Ghana has exceeded its initial target of raising GH\u00a2 2.10 billion to GH\u00a2 2.57 billion from the debt market in the latest auction of treasury bills with maturities of 192, 182 and 364 days. The bids for the 91-day, 182-day, and 364-day T-Bills amounted to GH\u00a22,170 million, GH\u00a2375 […]<\/p>\n","protected":false},"author":1,"featured_media":93658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-108824","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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