For the third consecutive week, the government has experienced a significant oversubscription in its treasury bills auction held on January 17, 2025.Total bids for the auction amounted to GH¢8.839 billion, surpassing the target of GH¢6.353 billion by GH¢2.486 billion.Results from January 20, 2025, show that the government secured GH¢5.688 billion for the 91-day bill, GH¢1.318 billion for the 182-day bill, and GH¢1.

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883 billion for the 365-day bill.Despite the oversubscription, not all bids were accepted.Interest rates for the auction were 28.41% for the 91-day bill, 28.97% for the 182-day bill, and 30.28% for the 365-day bill.Looking ahead, the government plans to borrow GH¢6.001 billion in the upcoming auction.Due to limited access to the international capital market, treasury bills have become the primary source of borrowing for the government.

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The new administration has pledged to implement measures to regain access to international markets and reduce its dependence on domestic borrowing.

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