Government Surpasses Treasury Bill Target, Raising Extra GHS 514 Million
March 2025 – The Government of Ghana has once again exceeded its Treasury bill target, securing an additional GHS 514 million beyond its initial projection.
According to the latest auction results from the Bank of Ghana, the government aimed to raise GHS 8.26 billion but ended up attracting GHS 8.77 billion in total bids—an oversubscription of 6.22%.
Breakdown of Auction Results:
📌 91-Day T-Bill: GHS 6.2 billion tendered, fully accepted.
📌 182-Day T-Bill: GHS 1.83 billion tendered, GHS 1.80 billion accepted.
📌 364-Day T-Bill: GHS 1.2 billion tendered, but only GHS 746 million accepted.
Declining Interest Rates on Treasury Bills
Interest rates on T-bills continue to decline, reflecting the government’s efforts to lower borrowing costs:
🔻 91-Day T-Bill: 15.88% (-186 basis points)
🔻 182-Day T-Bill: 16.93% (-204 basis points)
🔻 364-Day T-Bill: 17.98% (-101 basis points)
The rate of decline has slowed as the government strategizes to manage borrowing expenses.
Next Treasury Auction Target
The government now aims to raise GHS 6.14 billion in its next auction.
Stay tuned for further updates on Ghana’s financial market trends.
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