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Treasury Misses Treasury Bill Auction Target for Third Consecutive Week, Raising GHS 3.67 Billion
The Government has once again missed its Treasury Bill auction target raising GHS 3.67 billion last Friday, significantly short of its GHS 5.98 billion auction target.
The reduced demand for the short-term debt instruments resulted in an under-subcribtion of GHS 2.30 billion.
This marks the third consecutive week of undersubscription, following a shortfall of GHS 2.67 billion the previous week when the government sought to raise GHS 7.43 billion.
The inability of the Government to achieve its auction target can be attributed to the reduction in yields across the three tenors.