For the fourth consecutive week, the government failed to fulfil its target for treasury bills.

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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Government of Ghana failed to meet its treasury bill target for the fourth week in a row.

According to auction results by the Bank of Ghana, the government recorded a 33% undersubscription of the short-term instruments.

This is coming despite a decline in the inflation rate. According to the auction results, the government obtained GH¢4.51 billion of the total bids, but accepted GH¢4.50 billion.

The target for the auction was GH¢6.83 billion.

About 80% of the bids came from the 91-day bill. 

A little over GH¢3.61 billion of the bids were tendered.

The uptake was GH¢3.60 billion. For the 182-day bill, GH¢617.63 million of the bids were tendered.

All the bids were accepted. Also, GH¢282 million of the bids were tendered for the 364-day bill. A little over GH¢279 million of the bids were accepted.

Meanwhile, Interest rates continued to rise on the yield curve.

Source: newsthemegh.com