Government to borrow £4.010 billion at latest auction

The government wants to borrow £4.010 billion at this week’s Treasury bill auction.

After many undersubscriptions, the government recorded a slight oversubscription at the latest Treasury bill auction.

As a result, the government exceeded the target of GH¢ 3.980 billion by GH¢ 442.11 million.

The sale of short-term instruments brought the total sales to ₹4,422.11 billion.

The auction on October 25, 2024 and the issue on October 28, 2024 secured £3,188.12 billion for the 91-day note.

However, the government accepted £957.67 million for the 182-day bill and £276.32 million for the 365-day bill.

Interest rates were set at 26.19% for the 91-day note, 27.29% for the 182-day note and 28.97% for the 365-day note.

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

SSD/MA

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