Ghana’s government recently experienced a record 20% undersubscription of its treasury bills, signaling decreased investor confidence. The 91-day bill remained the most attractive option, attracting GH¢2.25 billion in bids, constituting 53.6% of all tenders. This undersubscription occurs alongside a continuing trend of rising interest rates on government debt. The low demand suggests investors are seeking higher returns or are wary of the government’s borrowing needs. Analysts attribute this to a combination of factors, including macroeconomic concerns and competitive investment alternatives. This situation could potentially force the government to offer more attractive rates to secure future funding, increasing the cost of borrowing. The outcome raises questions about the sustainability of government financing strategies.