Tag: treasury bills
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GH¢2.11bn T-Bill auction likely to be oversubscribed, GCB Capital Research predicts
GCB Capital Research analysts have indicated that the October 6, 2023 Treasury bills (T-bills) auction could witness significant oversubscription due to its relatively smaller size. The T-bill auction is targeted to issue GH¢2.11 billion. This marks a 17.94 percent decline compared to the previous week’s issuance. The T-bills will encompass various tenors, ranging from 91-day…
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Oversubscription of govt treasury bills to continue over DDEP gains – Analyst predicts
Financial analyst, Courage Boti is predicting that government’s treasury bills will continue to be oversubscribed in the coming weeks. This, he attributes to gains made by the government in its debts restructuring exercise. The government has recorded an oversubscription of its treasury bill for two weeks in a row, with last week registering roughly 15.10…
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Seth Terkper warns govt against financing long-term development with T-Bills
Mr. Seth Terkper, a former Finance Minister, has cautioned the government against relying on Treasury Bills (T-bills) to finance the country’s long-term development. He explained that T-bills, which are short-term debt instruments with maturities ranging from 91 days to one year, are not sustainable options for financing Ghana’s economic and development needs, which are long-term…
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T-bills auction: Govt treasury bills oversubscribed by 6.4% amid rising borrowing costs
The government’s treasury bills target of ¢2.63 billion saw an oversubscription of about 6.4%, indicating strong investor demand. However, this increase in demand comes with a growing concern over the rising cost of borrowing. The Bank of Ghana’s figures reveal that interest rates have been consistently rising for the past eight weeks, raising questions about…
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T-bills oversubscribed by almost 30% as govt generates GH¢2.53bn
The Treasury market saw its fourth consecutive week of rising interest rates as the government sought more funds to cover its short-term liabilities. According to the Bank of Ghana’s latest auction, rates increased across the yield curve. The 91-day T-bill rose by 0.07% to 19.96%, while the 182-day bill increased by 0.10% to 22.57%. The…
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Government’s decision to cut interest rates on T-Bills is laudable – Joe Jackson
Executive Director of Dalex Finance, Joe Jackson, has lauded government’s decision to reject bids made for the 91,182 and 364 day bills with yields over 35% in a recent T-Bills auction on March 3, 2023. This, he notes is a crucial step towards addressing the high interest rates on government securities. Government rejected all the…
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Interest on treasury bills for last 3 months hits ¢4.416bn
Interest cost on Government of Ghana Treasury bills for the last three months is estimated at GH¢4.416 billion. This was disclosed by the Executive Director of Dalex Finance, Joe Jackson. Government reportedly bought a total of GH¢33.08 billion worth of T-bills in the last three months. The treasury instruments were sold by government at an…
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Domestic debt exchange: No haircut on treasury bills, principal bonds – Gov’t
Government has announced that there will be no “haircut” on the principal of bonds and that individuals with government bonds will have their full investments on maturity. In a public address on the recent debate about possible haircuts on all bonds and treasury bills following government’s debt restructuring deal with the International Monetary Fund (IMF),…