The government has recorded a 19.75% oversubscription of treasury bills just a week after President-elect John Dramani Mahama's victory in the December 7 general elections.

According to the Bank of Ghana’s auction results, demand for short-term government securities surged following the peaceful and successful elections, signaling renewed investor confidence in the country’s economic stability.

The government raised GH¢8.20 billion from the sale of treasury bills, exceeding the target, with all bids accepted.

91-Day T-Bill: The most subscribed instrument, securing GH¢6.740 billion, accounted for 82.1% of the total bids. 182-Day T-Bill: This instrument garnered GH¢951.67 million. 364-Day T-Bill: The long-term treasury bill recorded GH¢508.15 million.

Interest rates continued their upward trajectory, nearing the 30% mark:

The 91-day bill yield increased by 17 basis points to 27.77%. The 182-day bill saw its rate rise to 28.49%, up from the previous week’s 28.32%. The 364-day bill recorded a slight increase of 3.0 basis points, reaching 29.94%.

The oversubscription highlights heightened investor interest and confidence in Ghana’s short-term debt instruments following the election period.

The peaceful transition of power, coupled with expectations for sound fiscal management under the incoming administration, likely bolstered demand for government securities.

This performance marks a positive start for the Mahama administration as it prepares to take charge of Ghana’s economic governance.