May 9 treasury auction undersubscribed as Government misses target

The Government of Ghana fell short of its target in the treasury bill auction held on Friday, May 9, 2025. While bids totalling GH₵5.2 billion were accepted for the 91, 182, and 364-day bills, this was below the GH₵6.684 billion target.

According to the Bank of Ghana, the government accepted GH₵4.3 billion for the 91-day bill, GH₵700 million for the 182-day bill, and GH₵154.68 million for the 364-day bill.  The GH₵5.2 billion total indicates a shortfall of GH₵1.4 billion compared to the intended target.  Weighted average discount and interest rates varied across the different tenors.

Source: GNA