Government To Borrow GH¢12.7 Billion in Treasury Bills for January 2024

-

The government is planning to borrow GH¢12.7 billion through treasury bills in January 2024 to fund maturing bills, marking a 1.2% decrease from December 2023. In the first auction of 2024, the government already raised GH¢3.223 billion, exceeding the targeted amount by 15.24%. 

READ ALSO: Government to Borrow ¢94.4 Billion In 2024 Via Treasury Bills To Finance Expenditure

With strong demand averaging GH¢4.0 billion per week, analysts anticipate that the authorities will easily refinance upcoming maturities. However, higher targets are expected to finance the 2024 budget deficit and buffer for February 2024 coupon payments on the restructured bonds.

Surge in T-Bills Demand in December 2023

In December 2023, demand for treasury bills remained robust, with investors submitting total bids of GH¢16.3 billion across the T-bills, surpassing the total maturities of GH¢12.8 billion. The government accepted all bids due to the high funding need for maturity refinancing.

Mixed Yields Outturn in December 2023

Yields outturn was mixed in December 2023, with downward pressure from sharp disinflation offsetting upward pressure from the increase in Cash Reserve Ratio. The 91-day and the 364-day yields respectively trimmed 14 basis points and 74 basis points month-on-month to 29.4% and 32.5%, while the 182-day yield gained 19 basis points to 31.9%.

 https://bigfamilyonlinenews.blogspot.com


Comments

Post a Comment

Popular posts from this blog

AFCON 2023: Cape Verde Beats Ghana To Top Group B

-
Image
Gary Rodrigues emerged as the hero for Cape Verde, scoring a late goal in added time to secure a 2-1 won over Ghana in their opening game at the 2023 Africa Cup of Nations (AFCON). After this back-and-forth match, the outcome left Ghana reeling and considering their next course of action. Related To This: AFCON 2023: The Outcome Was Really Disappointing To Us - Chris Hughton on Losing To Cape Verde Drama erupted early in the match as Jameiro Monteiro scored Cape Verde's first goal in the 17th minute after Richard Ofori tripped. To the delight of their supporters, Cape Verde held their lead throughout the first half despite Ghana's relentless play in the final third. The contest saw Majeed Ashimeru's disallowed goal, as Ransford-Yeboah's involvement was deemed offside, denying Ghana the chance to level the score early on. However, the Black Stars entered the second half with renewed vigor, with Djiku scoring the equalizer from a corner. Djiku continued to play a heroic ...
Read more

Former US Officials Reaffirm Strong Support for Taiwan Following Presidential Election

-
Image
(Photo Credit: cnn) Despite China's threats, former top US officials flew to Taiwan to reiterate Washington's unwavering support for the island after it chose a president Beijing loathed. Lai Ching-te, the leader of the Democratic Progressive Party (DPP), was elected to an unprecedented third term in government. Beijing was outraged by this, and ties between the US and China were strained as a result. Related To This: Nauru Cuts Ties with Taiwan and Recognizes China While visiting Taiwan, former US national security advisor Stephen Hadley congratulated the island nation on its election triumph and hailed its democracy as a "shining example for the world". Hadley emphasized that the next administration will uphold the United States' strong commitment to Taiwan and the two nations' ongoing partnership. (Photo Credit: cnn) Congratulating Lai and the people of Taiwan, US Secretary of State Antony Blinken emphasized the robustness of Taiwan's democratic system...
Read more

Parliament Summons Transport Minister Over Extra $20 Charge at KIA

-
Image
Minister for Transport, Kwaku Ofori Asiamah, has been called to provide urgent explanations to Members of Parliament (MP) regarding a purported new charge imposed by the Ghana Airport Company (GACL) as maintenance fees. Related To This: British Airways Engages With Government on High Operating Costs At KIA Effective May 1, 2024, passengers traveling through Kotoka International Airport in Accra will be mandated to pay a $20 fee for maintenance purposes and to assist in covering the costs of baggage belt repairs. A letter from the management of GACL to the Chairperson of the Airport Operators Committee of Kotoka International Airport revealed the introduction of a new fee for departing travelers. Dated March 11, 2024, and signed by the Managing Director of Ghana Airports Company Limited, Yvonne Nana Afriyie Opare, the letter outlined that the fee would apply to all round-trip tickets. Alongside the announcement of the $20 round-trip airline ticket fee, GACL specified that $10 of the fe...
Read more