The Government of Ghana has failed to meet its planned borrowing target in Treasury bill Auction 2009, according to results published by the Bank of Ghana.
The auction sought to raise GHS 5.892 billion through the issuance of 91-day, 182-day, and 364-day Treasury bills. However, total accepted bids closed at about GHS 4.866 billion, leaving a shortfall of roughly GHS 1.03 billion.
Market data showed strong demand for the short-term 91-day instrument, which attracted GH¢3.368 billion in bids, with GH¢3.363 billion accepted.
The 182-day bill also saw moderate participation, recording GH¢750 million in bids, of which GH¢706 million was taken up.
In contrast, the 364-day bill was fully subscribed, with the entire GH¢798 million offered being accepted.
Despite participation across all maturities, the overall outcome fell below government expectations, reflecting a lower-than-targeted liquidity uptake in the domestic market.
Interest rates for the auction remained relatively stable, with weighted averages recorded at 4.99 per cent for the 91-day bill, 7.04 per cent for the 182-day bill, and 10.46 per cent for the 364-day bill.
