Treasury bills auctioned last week were met with a low appetite for a long term investment as they were undersubscribed the Newsday reports. Treasury last week announced in a statement that they were floating 300 Million worth of treasury bills and invited stakeholders to invest in the Treasury Bills.
According to the publication the govt managed to raised $81 million from the auction, $219 million short of their target:
In its recent publication, the central bank said it received total bids amounting to $81 million; a figure far below the sum government was hunting for.
2 months ago the govt floated another batch of treasury bill and managed to raise $192 Million. Floating Treasury Bills is a way of raising funds for government activities.