The government plans to borrow GH¢78.441 billion from the money market in the third quarter of 2024.

Out of that, GH¢53.807 billion will be used to roll over short-term maturities, while the remaining fresh issuance of GH¢24.633 billion will be used to meet its financing requirements.

This will be done through the issuance of the 91-day, 182-day and 364-day bills weekly.

The issuance will be done through the primary auction with settlement being the transaction date plus one business day.

A notice from the Bank of Ghana pointed out that the stated gross borrowing amount is indicative to guide the market and may be revised when transaction adverts are published.

Again, the government may update the issuance calendar on a rolling monthly basis, to reflect a full quarter financing programme.

It added that the calendar is developed based on the 2024 domestic maturities for the period and the Net Domestic Financing (NDF) from the 2024 Budget Statement and Economic Policy.

It described the securities that are intended to be issued in respect of the Government’s Public Sector Borrowing Requirement for the period July to September 2024.

The government borrowed GH¢115.77bn in half-year 2024

During the first six months of 2024, the government however received total bids worth GH¢116.07 billion from investors.

Instructively, the money market continued to boom through the period, upholding the upward trend since the onset of Ghana’s economic challenges.

Additionally, investors maintained a strong appetite for treasury bills to balance long-term risk in GoG bonds while raking in competitive real returns through T-bills.