Interest rates steady for 2 straight weeks, government treasury bill sale oversubscribed by 43%

Interest rates recorded relative stability for the second week in a row, about 10 days since the government announced its intention to seek economic support from the International Monetary Fund.

This means that investors are gradually regaining confidence in the economy, following the government’s commitment to the International Monetary Fund (IMF) to help revive the economy.

So far, the yield of Ghana Eurobonds in the international market is becoming attractive.

Improved liquidity in the market should help the government easily fund its programs.

According to the results of the auction, the interest rate on 91-day Treasury bills stood at 25.89%, against 25.88% recorded a week ago.

That of 182-day Treasury bills was 26.54%, 0.01% lower than the 26.55% recorded the previous week.

Meanwhile, the government recorded a 43% oversubscription from the sale of short-term instruments.

He got ¢1.32 billion, out of a target of ¢928 million.

One billion cedis was however raised from the 91-day treasury bills, while ¢214.05 million was generated from the sale of the 182-day treasury bills.

Securities Tenders submitted (GH¢) Bids Accepted (GH¢) Interest rate
91 day invoice 1.007 billion 1.001 billion 25.89%
182 day invoice 214.05 million 214.05 million 26.54%
364 day invoice 107.06 million 107.06 million 27.49
Total 1.328 billion 1.322 billion
Target 928 million

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