Short-term debt instruments see 12.7% oversubscription as Gov’t raises GHS 2.99bn

The Government of Ghana on Friday, June 28, successfully mobilized GHS 2.99 billion through its Treasury Bill issuance, surpassing its target of GHS 2.65 billion by GHS 338 million.

This oversubscription, representing a 12.7% increase above the target, underscores strong investor confidence in the government’s short-term debt instruments particularly after successfully concluding its debt restructuring programme.

Yields across the 91-Day, 182-Day, and 364-Day Bills remained stable at 24.86%, 26.80%, and 27.78%, respectively.

Notably, the 91-Day Bill attracted the highest subscription, garnering GHS 2.35 billion, followed by GHS 572 million for the 182-Day Bill and GHS 64 million for the 364-Day Bill.

Meanwhile, in the upcoming T-Bill auction on Friday, July 5, the Government aims to raise some GHS 3.24 billion through the issuance of the 91-Day, 182-Day, and 364-Day Bills, continuing its strategy to leverage strong market demand for its debt instruments.