The government plans to borrow GH¢5.198 billion in its upcoming auction this week.

In its first auction of the year, the government experienced a significant oversubscription in its treasury bills auction on January 3, 2025.

The auction received total bids amounting to GH¢5.371.75 billion, surpassing the target of GH¢4.326 billion by GH¢1.045.75 billion.

According to results released on January 6, 2025, the government secured GH¢3.531.54 billion for the 91-day bill, accepted GH¢604.39 million for the 182-day bill, and GH¢1.235.82 million for the 365-day bill.

However, not all bids in this week's auction were accepted.

The interest rates for the latest auction were set at 28.19% for the 91-day bill, 28.91% for the 182-day bill, and 30.15% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing due to its lack of access to the international capital market.

SSD/MA

Leaked Document: How NPP government awarded a $5m housing contract 12 days after election defeat