The Government of Ghana, through the Bank of Ghana (BoG), has announced plans to issue GHS75.70 billion in treasury securities between October and December 2025. The move forms part of a broader strategy to revitalise the domestic capital market and enhance predictability and transparency in public financing.
According to the BoG, the financing plan for the quarter will include Treasury Bills and Bonds, aligned with the Public Debt Management Office’s objective of lengthening the maturity profile of public debt.
The issuance calendar, prepared based on projected domestic maturities and the revised Net Domestic Financing (NDF) outlined in the 2025 Mid-Year Fiscal Policy Review, is intended to guide market participants in their investment decisions.
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Of the total gross issuance, GHS67.517 billion will be used to refinance maturing obligations, while GHS8.182 billion represents fresh issuance to meet new financing needs.
To achieve these targets, the Government will conduct weekly primary auctions for 91-day, 182-day, and 364-day Treasury Bills. In addition, it plans to reopen selected instruments under the Domestic Debt Exchange Programme (DDEP) to support budget implementation and improve liquidity in the secondary market.
The Government reaffirmed its commitment to maintaining transparency and predictability in the domestic capital market and assured stakeholders of continued engagement throughout the implementation of the programme.
