The forthcoming T-bill auction on Friday, January 28, 2022 will raise $1.28 billion for the government to refinance Treasury bill maturities totaling $1.07 billion.
As a result of the uncertainty surrounding the Domestic Debt Exchange (DDE) program, which has somewhat been alleviated as a result of the deal between the banks and the government, the government missed its treasury bills objective by 20%.
The 91-day, 182-day, and 364-day T-bills will be issued by the government in order to raise the necessary revenue.
Due to a decline in investor interest, the government experienced an under-subscription in the T-bill auction last week.
All of the bills totaling the offered bids of $1.93 billion were accepted by the Treasury.
The weighted average yield on the tenor ended the auction 17 basis points higher at 35.63% thanks to the majority of the uptake (82%) being in the 91-day bill.
Treasury bills would be suicide if they were included in the debt exchange program, according to Finance Minister Ken Ofori-Atta, who stated this last week in an exclusive interview with Joy Business. Treasury bills are currently the only source of borrowing for the government.
We are unable to touch it. I can promise you that Treasury bills will always be sacred. Treasury bills are entirely exempt. The sustainability analysis has been completed. Treasury bills are not included in this. He reiterated, “That is how the government funds its operations.
Despite his declaration, recent short-term security sales have been inconsistent.
