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¢1.883 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.

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