Ghana has made a significant breakthrough in its economic recovery efforts, saving approximately GH¢1 billion due to the recent reduction in Treasury bill rates.
This remarkable achievement was revealed by the Minister of Finance, Cassiel Ato Forson, during the National Economic Dialogue on March 3.
The savings generated from the lower Treasury bill rates will be redirected towards critical sectors of the economy to promote development and ensure a stable and prosperous environment for Ghanaians. Ato Forson emphasized the need to reduce borrowing and lower the cost of debt to generate more funds for national development and economic restructuring.
The reduction in Treasury bill rates is a result of strong investor demand and the Treasury’s recent rejection of higher bids.
The rates have fallen significantly, from 28-30% to an average range of 20-22%. Specifically:
- 91-day Treasury bill: dropped from 28.34% to 20.79%, a 760-basis-point decline
- 182-day bill: fell from 28.96% to 22.98%, a 600-basis-point drop
- 364-day bill: declined from 30.17% to 22.69%, a significant 750-basis-point reduction
