Government to borrow GH¢15.231bn via T-bills, bonds between March and June 2026

The government plans to borrow fresh debt in treasury bills and bonds worth GH¢15.231 billion between March and June 2026.

This is to support budget implementation whilst rolling over existing debt maturities.

The issuance of the treasury securities will be via the 91-day, 182-day and the 364-day treasury bills. It will be done weekly through the primary auction with settlement being the transaction date plus one working day.

The debt instruments will also be in a medium to long term bonds after the expiration of the Domestic Debt Exchange Programme (DDEP) restrictions, with settlement being the transaction date plus two working days.

According to a release by the Bank of Ghana, the government aims to build benchmark bonds through the issuance of these instruments. “It is expected that the Issuance Calendar for March to June 2026 will provide market participants with clear guidance to inform their investment decisions”.

“As part of the broader strategy to revamp the capital market, government’s financing from the domestic market aims at reducing over reliance on the issuance of Treasury Bills whilst increasing the issuance of medium to long-term bonds consistent with the Government’s Debt Management Strategy of lengthening the maturity profile of the public debt”, it explained.

The government reaffirmed its commitment to enhancing predictability and transparency in the domestic capital market and assures all stakeholders and the public of its continued efforts in this regard.

This calendar has been prepared taking into consideration projected domestic maturities and the Net Domestic Financing (NDF) outlined in the 2026 Budget Statement and Economic Policy.

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