The current auction for Treasury Bills on February 3, 2023 saw an oversubscription of roughly GH500 million.

The Central Bank's auction results show that the 91, 182, and 364-day treasury bills brought in GH1.95 billion for the government.

The aim of GH 1.423 billion is still 530.83 million away.

The 91-day bill, which raised GH1.571.46 billion and the 182-day bill, raised GH382.37 million, attracted the majority of subscriptions.

However, the interest rates were generally around 35%.

On the other hand, the 365-day charge was not a part of the subscriptions from the previous week.

The increase in the subscription is an indication of investor confidence as the government has made some significant progress in the debt exchange programme.

The government reached an agreement with banks to pay a 5% coupon rate in 2023, a development that has made the government’s aim of attaining an 80% participation rate in the program.

Individual bondholders are still calling on the government to exclude them from the programme, however, as the deadline for the invitation draws nigh government is yet to announce their exclusion or otherwise.

However, the deadline for the debt exchange programme is February 7, 2023.

But pensioner bondholders have picketed the Finance Ministry to demand a total exemption from the debt exchange programme.