The government is set to raise GH¢15.231 billion through treasury bills and bonds between March and June 2026 as part of efforts to finance its budget and refinance maturing debts.
The planned borrowing will primarily be conducted through short-term treasury bills—specifically the 91-day, 182-day, and 364-day instruments—issued weekly via primary auctions. Settlements for these transactions will occur one working day after the auction.
In addition, the government will introduce medium- to long-term bonds once restrictions linked to the Domestic Debt Exchange Programme (DDEP) are lifted. These bond transactions will settle two working days after issuance.
According to the Bank of Ghana, the strategy aims to establish benchmark bonds that will help deepen the domestic capital market and guide investor decision-making. The issuance calendar for the period is expected to provide clarity and predictability for market participants.
The move also forms part of a broader effort to strengthen the capital market by reducing reliance on short-term treasury bills while increasing the share of longer-term bonds. This approach aligns with the government’s debt management strategy of extending the maturity profile of public debt.
Authorities reaffirmed their commitment to improving transparency and predictability in the domestic market, assuring stakeholders of continued efforts in that direction. The issuance plan is based on projected domestic debt maturities and the Net Domestic Financing targets outlined in the 2026 Budget Statement and Economic Policy.
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