According to John Kumah, the deputy minister of finance, the coupon rate on government bills would fall further in the coming weeks due to the debt restructuring program. According to him, the Domestic Debt Exchange program is responsible for the fall in Treasury Bill interest rates from 35 to 24 percent. According to the Deputy Finance Minister, the initiative is producing the outcomes required for economic development and change.
"Last week, the country's treasury bill rate was at 35%," he remarked in Parliament. Because of the DDEP, the treasury bill rate has been decreased to 24 percent as we speak. We have oversubscription, and even at 24 percent, there is a 121 percent oversubscription.
"T-Bill coupon rates will be decreased further. This means that inflation will reduce in the future, as will the cost of borrowing for the private sector, restoring economic stability and inclusive prosperity."
During the weekly treasury bill auction on March 3, 2023, the government rejected all offers above 30% last week.
Yet, it was able to acquire about GH4 billion at interest rates ranging from 24 to 27 percent.
