In the third quarter of 2024, the government intends to borrow GH¢78.441 billion from the money market.
Of that amount, GH¢53.807 billion would be utilized to extend short-term maturities, and GH¢24.633 billion in new issuance will be utilized to cover financing needs.
The weekly issuance of the 91-day, 182-day, and 364-day bills will accomplish this.
The primary auction will be used for the issue, and the transaction date plus one business day will be used for settlement.
The indicated gross borrowing amount is only intended to serve as a guide for the market and could change once transaction advertisements are released, according to a warning from the Bank of Ghana.
Once more, to represent a complete quarter financing program, the government may alter the issuance calendar on a rolling monthly basis.
It further stated that the calendar is created using the Net Domestic Financing (NDF) from the 2024 Budget Statement and Economic Policy, as well as the domestic maturities for the period in 2024.
In relation to the government’s public sector borrowing requirement for the months of July through September of 2024, it detailed the securities that are planned to be issued.
Earlier On
In the first half of 2024, the government borrowed GH¢115.77 billion from the Treasury Market, a 70.22% increase over the same period the previous year.
However, the government received proposals from investors totaling GH¢116.07 billion during the first half of 2024.
Instructively, the money market maintained its rising trajectory since the start of Ghana’s economic difficulties during the period, continuing to soar.
Furthermore, investors continued to show a significant interest for treasury bills in order to offset the long-term risk associated with GoG bonds and earn competitive real yields.
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