Government last week failed to meet its target of Ghs 791 million in the auction of the 91 days and 182 days Treasury Bills.
Per the auction results report released by the Bank of Ghana (BoG), bids tendered in by primary dealers for the 91 days T-Bills, amounted to Ghs 476.45 million with government accepting all bids tendered in.
Bids for the 182 days T-Bills also amounted to Ghs 152.12 million with government once again accepting all bids.
Bids tendered in for both the 91 and 182 days both fell short of their targets.
Cumulatively, government was able to mobilise some Ghs 628 million from the auction, falling behind its target of Ghs 791 million by Ghs 162.43 million.
In the previous week – May 14, 2021 – government was however, able to meet its target of raising some Ghs 1.2 billion from the auction of its 91, 182 and 364 T-Bills, exceeding its target by some 3 percentage points as bids tendered in by primary dealers for the short-term debt securities amounted to Ghs 1.3 billion.
Government, for some time now due to the tightening of liquidity on the interbank market has failed to meet its targets for T-Bills auctions.
In recent time and for close to about seven weeks, government has consistently failed to meet its T-Bills auction targets needed to finance its short term needs.