Ghana’s T-bill warning signal: why seven straight auction misses are raising investor red flags

• Seventh straight T-bill shortfall signals market stress
• Rising yields show investors demanding a higher risk premium

ACCRA, GHANA — Ghana’s treasury bill market is flashing warning signs after seven consecutive weeks of undersubscribed auctions, pointing to growing investor caution and emerging pressure on government financing.

For the seventh straight week, the government failed to meet its treasury bill target, reinforcing concerns that the pattern is no longer a temporary blip but a signal of deeper market recalibration.