The federal government will borrow GH¢6.68 billion via the issuance of 91-day, 182-day, and 364-day payments, tomorrow, Might 16, 2025.
This shall be used to settle maturing debt price GH¢6.44 billion.
Final week, the federal government for the second consecutive week failed to satisfy its treasury payments goal.
That is regardless of a formidable efficiency of the Ghana cedi, rating it because the best-performing forex on the planet.
In keeping with public sale outcomes by the Financial institution of Ghana, the Treasury recorded a marginal undersubscription of the T-bills public sale.
Yield compression continued. The 91-day and 182-day payments eased 7.0 foundation factors every to fifteen.16% and 15.70%, respectively, whereas the 364-day fell 15 foundation factors to 16.80% week-on-week.
Analysts consider the Treasury’s full acceptance of bids displays alignment with market urge for food moderately than heightened borrowing urgency.
The narrowed yield hole between the 91- and 364-day payments suggests the Treasury could also be adopting a strategic effort to average yield compression, significantly forward of elevated however manageable upcoming maturities, particularly within the 91-day phase.
Within the close to time period, they anticipate sustained demand for the 91-day invoice alongside a extra gradual tempo of yield easing.
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