Government exceeds t-bill target, borrowing GHC22.06 billion in January 2024

In January 2024, the government surpassed its treasury bill target, borrowing GH¢22.06 billion, approximately 35.80% more than the planned GH¢15.13 billion.

According to a Joy Business report, the 91-day T-bill dominated the majority of bids.

Analysts anticipate a continued uptake trend in February 2024, with an estimated cash coupon payment of about GH¢4.3 billion on the new bonds.



Read full article/> However, yields are expected to decline in alignment with disinflation and the 100 basis points cut in the monetary policy rate.

Last week, investors oversubscribed the treasury’s money market auction, with total bids reaching GH¢4.53 billion against a GH¢2.86 billion target, all of which were accepted.

Yields decreased, with the 91-day and 182-day reaching 28.30% and 30.79%, respectively, while the 364-day yield closed at 31.40%.