Ghana treasury bill auction misses target as falling yields weaken demand

• Ghana’s T-bill auction ends 15-week oversubscription streak.
• Falling yields dampen investor appetite for government debt.

ACCRA, GHANA – Ghana’s short-term debt market suffered its first setback in more than three months after the government narrowly missed its fundraising target in the latest Treasury bill auction.

Data released by the Bank of Ghana show the government raised GH¢7.9 billion from total bids of GH¢8.73 billion, falling short of its target by about GH¢139 million.