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Out of 12 countries surveyed by Economic Research, Ghana had the highest interest rates ranging between 25 and 26.4 percent for 91-days and 182-Day Treasury bills respectively. Rising inflation, the weak Ghana Cedi and the fiscal economy has compelled, the Central Bank to adjust interest rates on short term securities. Malawi followed suit with a yield of 18 and 20 percent respectively for 91-Day and 182-Day Treasury bills. Nigeria with a stable inflation recorded a yield of 10.15 percent respectively for the short term securities. Gambia, Sierra Loene, Kenya, Tanzania, Uganda, Democratic Republic of Congo, Rwanda, South African and Zambia were the African countries surveyed. Ecobank Research said �as the short term outlook for the Cedi and inflation continues to deteriorate, risk premium over the local currency denominated securities is expected to rise, fueling high yield expectations to compensate for likely foreign exchange exposure risk.� It added that higher yields will help attract capital inflows and support the Cedi. However, this will increase the government�s debt servicing costs. On August 4, the Bank of Ghana issued a 3-Year bond worth GH400mn at, 25.4 percent interest rate, alongside ongoing, successful weekly Treasurer Bill and 2-year notes issuances. However, the risk premium associated with uncertainty over the short term Cedi and inflation outlook heightened during the month, reflecting investors� risk-on sentiment over Cedi denominated assets.