The Government of Ghana raised GH¢2.57 billion in its latest Treasury bill auction, falling short of its GH¢3.71 billion target by about GH¢1.13 billion.

This marks the second consecutive undersubscription, signaling a slowdown in investor appetite for short-term government securities.

According to auction results released by the Bank of Ghana, the Treasury received total bids worth GH¢2.59 billion, out of which GH¢2.57 billion were accepted — representing a 30% shortfall from the target.

The 91-day bill attracted the highest interest, accounting for over 78% of total bids. About GH¢2.028 billion was tendered for the instrument, with GH¢2.023 billion accepted.

For the 182-day bill, total bids amounted to GH¢394.4 million — slightly lower than the previous week — with GH¢389.4 million accepted.

Meanwhile, the 364-day bill recorded GH¢170.6 million in bids, of which GH¢165.6 million were accepted.

Interest rates on all tenors edged down marginally, reflecting a modest easing on the yield curve as the government continues to navigate funding pressures amid tightening market conditions.