Accra: Government fell short of its Treasury bill target, raising GHS4 billion against a goal of GHS4.89 billion in the latest auction.
According to Ghana News Agency, the shortfall of about GHS800 million was recorded in Tender 2003, which covered 91-day, 182-day, and 364-day bills. Results released by the Bank of Ghana (BoG) showed that the 91-day bill recorded bids of GHS2.56 billion, with GHS2.54 billion accepted at rates between 4.5 and 5.0 percent.
The 182-day bill attracted GHS771 million in bids, of which GHS758 million was accepted at rates ranging from 6.48 to 6.95 percent. For the 364-day bill, bids totaled GHS1.16 billion, but only GHS790 million was accepted at rates between 8.5 and 9.39 percent.
The weighted average discount rates for the week ending April 24 were 4.89 percent for the 91-day bill, 6.68 percent for the 182-day bill, and 9.20 percent for the 364-day bill. The Bank has set a target of GHS4.485 billion for the next auction, Tender 2004, scheduled later in April.