The government has, for the fourth consecutive week, recorded a massive oversubscription in its treasury bills auction held on January 24, 2025.

The auction received total bids amounting to GH¢8.162 billion, exceeding the target of GH¢6.001 billion by GH¢2.161 billion.

According to results released by the Bank of Ghana on January 27, 2025, out of the GH¢8.162 billion bids tendered, the government accepted GH¢4.479 billion for the 91-day bill, GH¢1.756 billion for the 182-day bill, and GH¢1.927 billion for the 365-day bill.

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

The interest rates for the latest auction increased slightly, rising from approximately 28.41% last week to 28.51% for the 91-day bill, 29.06% for the 182-day bill, and 30.40% for the 365-day bill.

Meanwhile, the government aims to borrow GH¢6.527 billion in the upcoming auction this week.

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

The new government has assured the public that plans will be put in place to regain access to the international market and reduce reliance on domestic borrowing.

SSD/MA