The Government of Ghana plans to raise GH¢75.7 billion from the domestic market between October and December 2025 to support public sector financing and refinance existing debts.
According to the Bank of Ghana’s latest issuance calendar, GH¢67.5 billion will be used to roll over maturing debts, while GH¢8.2 billion will be fresh borrowing to fund government operations and spending during the fourth quarter.
The Central Bank indicated that the funds will be raised through regular auctions of 91-day, 182-day, and 364-day Treasury bills.
There may also be reopenings of existing bonds under the Domestic Debt Exchange Programme, depending on market conditions.
This borrowing strategy aligns with the government’s broader debt management goals: strengthening the domestic capital market, extending debt maturity timelines, and improving transparency in public borrowing.
