The Government of Uganda raised a total of Shs982.61 billion from auctioning of two treasury bills and one Treasury bond in the month of March 2024.
Particularly, Shs501.53 was from Bills while Shs 481.08 billion was from the Bond auction.
According to the Performance of the Economy Report for March 2024 released by the Ministry of Finance, Shs605.88 billion went towards refinancing maturing treasury instruments, while the balance of Shs 376.73 billion was used for financing other items of the budget.
Government issued 3-year and 20-year tenor bonds in March. According to the Finance ministry, yields slightly edged upwards for the 3-year bond to 14.999% in March compared to 14.25% offered for the same tenor in the February 2024 private placement.
On the other hand, yields remained unchanged for the 20-yesar bond at 16.75%, the same rate offered for the same tenor in February 2024 private placement.
The government says all auctions for Treasury Bills were oversubscribed, with the average bid to cover ratio amounting to 2.82 in March 2024, an improvement from 2.38 the previous month. This, it says, points to adequate liquidity in the money market.