{"id":266336,"date":"2024-12-16T13:29:07","date_gmt":"2024-12-16T13:29:07","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/16\/government-records-massive-oversubscription-as-interest-rates-hit-29-9\/"},"modified":"2024-12-16T13:29:07","modified_gmt":"2024-12-16T13:29:07","slug":"government-records-massive-oversubscription-as-interest-rates-hit-29-9","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/16\/government-records-massive-oversubscription-as-interest-rates-hit-29-9\/","title":{"rendered":"Government records massive oversubscription as interest rates hit 29.9%"},"content":{"rendered":"

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\"Interest Interest rates for 91-day bills stand at 27.7%<\/span><\/span><\/p>\n<\/div>\n

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The government recorded an oversubscription in its latest treasury bills auction on December 13, 2024.<\/p>\n

This marks the first time this month that the government has met its target.<\/p>\n

The auction received a total of GH\u00a28.20 billion in bids on December 13, 2024.<\/p>\n

According to results released on December 16, 2024, GH\u00a26.740 billion was allocated to the 91-day bill. The government accepted GH\u00a2951.67 million for the 182-day bill and GH\u00a2508.15 million for the 365-day bill.<\/p>\n

In comparison, the government raised a total of GH\u00a25.199 billion in the previous week’s auction.<\/p>\n

Interest rates for the latest auction were set at 27.77% for the 91-day bill, 28.49% for the 182-day bill, and 29.94% for the 365-day bill.<\/p>\n

Treasury bills have become the government\u2019s primary source of borrowing due to its lack of access to the international capital market.<\/p>\n

Meanwhile, the government aims to borrow GH\u00a25.463 billion in this week’s upcoming auction.<\/p>\n

SSD\/MA<\/p>\n

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