For the sixth consecutive week, the Government has failed to meet its weekly treasury bill target, raising only GH¢ 4.62 billion out of the GH¢ 4.968 billion target set for the auction held on Friday, August 16.

The undersubscription occurred despite the government’s acceptance of all bids, which included GH¢ 3.606 billion in 91-day bills, GH¢ 733.59 million in 182-day bills, and GH¢ 284.92 million in 364-day bills.

The latest figures show a 92.75% subscription rate, the highest in approximately five weeks, indicating an improvement in the subscription rate.

Additionally, although the Ghana Statistical Service reported a slowdown in the country’s inflation for the fourth consecutive month, with the rate dropping to 20.9% in July 2024 from 22.1% in June 2024, the average rates on the treasury bills sold have largely remained unchanged.

For the upcoming week’s auction, the government aims to raise GH¢ 5.319 billion.

Attached is a summary of last Friday’s auction result;