T-bills under subscription continues for third consecutive week
The government has rejected bids to the tune of GH¢2.36 billion out of the GH¢4.05 billion bids tendered for the 91-day, 182-day and 364-day bills auctioned last Friday, April 4, 2025.
Total tendered bids fell short of the government’s target of GH¢4.39 billion by some GH¢334 million.
The government, out of the total bids tendered, however, decided to accept some GH¢1.69bn rejecting bids to the tune of GH¢2.36bn.
The 91-day bill saw the highest demand, attracting GH¢3.38 billion in bids, of which GH¢1.44 billion was accepted.
The 182-day and 364-day bills recorded bids of GH¢501 million and GH¢176 million, with the government accepting GH¢81 million and GH¢161 million, respectively.
Yields on the 91-day bill declined by 7 basis points to 15.64%, the yield on the 182-day bill recorded the highest decline of 23 basis points to 16.50% and the 364-day instrument declined by 1 basis point to 18.83%.
The results come as the government prepares to raise an additional GH¢6.67 billion at its next short-term debt sale scheduled for Friday, April 11, 2025.
The rejection of a significant portion of the bids suggests the government remains cautious about borrowing costs despite ongoing financing needs.
SP/AE
Watch the latest edition of BizTech below:
Click here to follow the GhanaWeb Business WhatsApp channel