The Bank of Ghana (BoG) has recently announced the successful issuance of GH¢4.05 billion through the sale of its 56-day Treasury bills. This move comes as part of the Central Bank’s efforts to maintain a tight monetary policy stance and control inflation in the country.
The Treasury bills, which were auctioned on June 18, 2025, were issued at an interest rate of 27.9%, in line with the BoG’s benchmark policy rate. This issuance is a key component of the Bank’s Open Market Operations (OMO) strategy, aimed at managing liquidity in the financial system, shaping inflation expectations, and signaling future policy directions.
The high interest rate on the Treasury bills indicates the BoG’s commitment to tackling inflation, despite the challenges faced by Ghana in its post-crisis recovery phase and ongoing fiscal reforms under the IMF programme. The funds raised through this issuance will provide short-term budgetary support to the government, in line with the BoG’s liquidity management practices.
While the BoG has disclosed the interest rate and total amount raised, specific details such as bid volume and initial auction targets have not been made public. These details are closely monitored by investors to gauge market demand and sentiment.
Overall, this issuance of Treasury bills by the Bank of Ghana reinforces its commitment to maintaining stability in the financial markets and supporting the country’s economic recovery efforts. Investors will be closely watching the Central Bank’s future actions to assess how it plans to navigate the challenging economic environment.
