He attributed this decline in treasury bill interest rates to his government’s commitment to fiscal consolidation.
Delivering the State of the Nation Address on February 27, 2025 in Parliament, he stated, “Mr. Speaker, since we took office on January 7, 2025, we have upheld our commitment to a fiscal consolidation agenda with a streamlined government.
“We have eliminated unnecessary expenditures and reduced our reliance on borrowing. Our prudent debt management practices have led to a **substantial reduction in interest rates.”
In recent weeks, the government has observed an increased demand for treasury bills despite a decline in interest rates.
“The 91-day treasury bill rate, which was 28.51% on January 6, 2025, has decreased to 24.48% as of February 24, 2025. Similarly, the 182-day treasury bill rate, which was 29.07% on January 6, 2025, has dropped to 25.388%. The 364-day treasury bill rate has also declined from 30.41% to 27.30% within the same period,” the president said.
Background
President Mahama’s address, in line with Article 67 of the 1992 Constitution, outlined his ambitious “Resetting Ghana” agenda, which aims to tackle economic challenges, create jobs, and restore stability.
Source: www.ghanaweb.com
