Finance Minister Dr. Cassiel Ato Forson has provided an update on the government’s Treasury bill (T-bill) activities since January 10, 2025, emphasizing prudent debt management and a significant reduction in borrowing costs.
According to Dr. Forson, the government received total T-bill bids amounting to GHc 89.7 billion during this period. Of this, GHc 59.5 billion in bids were accepted, primarily to roll over existing debt inherited by the Mahama administration, while GHc 30.2 billion in bids were rejected. Consequently, the net borrowing by the government stands at GHc 7.1 billion, serving mainly as a buffer for servicing maturing debts accumulated by the previous administration. Dr. Forson noted that actual debt accumulation under the current government is virtually zero.
The Finance Minister also highlighted a notable decrease in the 91-day T-bill rate, which dropped from 28.34% to 20.79% over a span of 50 days. This decline reflects increased investor confidence in the Ghanaian economy. Recent auctions have seen significant oversubscriptions, with the government recording a 43.85% oversubscription in T-bills, accepting GHc 7.7 billion against a target of GHc 7.3 billion.
These developments underscore the government’s commitment to prudent public debt management and its efforts to create a more favorable borrowing environment, benefiting both the economy and investors.
