Mmegi

BoB targets P3.6bn for gov’t as new financial year kicks off

Central role: The BoB is government’s agent in the capital market PIC: MORERI SEJAKGOMO
Central role: The BoB is government’s agent in the capital market PIC: MORERI SEJAKGOMO

The Bank of Botswana (BoB) was due back in the capital market on Friday seeking debt of P3.6 billion for the government, as technocrats face payment obligations associated with the start of the new financial year on April 1.

The amount sought by the central bank is amongst the highest in recent months, as fiscal authorities continue to fight to balance weak and uneven revenues, with recurrent obligations in the public finance ecosystem.

The auction of three Treasury Bills and three bonds is also the first auction after the sovereign credit ratings downgrade by S&P, a decision that points to upward pressure on government’s borrowing costs.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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