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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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