After many series of undersubscriptions, the government has recorded a marginal over-subscription in its latest auction.

According to its latest auction results, the government exceeded its target of GH¢4.565 billion.

The sale of the short-term instruments resulted in an oversubscription of GH¢48.93 billion as the government managed to sell GH¢4.613.93.

During the auction on October 11, 2024, and issuance on October 14, 2024, GH¢3.887.83 billion was secured for the 91-day bill.

However, the government accepted GH¢500.68 million for the 182-day bill and GH¢225.42 million for the 365-day bill.

Last week, the government sold a total of GH¢4.035 billion.

Interest rates were set at 25.61% for the 91-day bill, 26.90% for the 182-day bill, and 28.58% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing since it no longer has access to the international capital market.

SSD/MA

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