The majority of the subscriptions came from the 91-day bills which received GH¢1.59 billion at an increased interest rate of 21.15%.
The 182-day bill received bids worth GH¢816.62 million at an interest rate of 23.93%.
The assumption was that due to the finalization of Ghana’s IMF deal, investor confidence will rise and lead to the government achieving its target or even surpassing it.
But even after that, treasury bills were being undersubscribed.
It is however not far-fetched to make the assertion that investor confidence is gradually being restored.
Watch the latest edition of BizTech and Biz Headlines below: