Gov’t eyes domestic debt ceiling increase to P85bn :: Mmegi Online

The Finance ministry this week approached legislators with a request to increase the limit on the main platform used for domestic borrowing from P55 billion to P85 billion, a move that, if approved, will be the third adjustment since 2020.

Under the government’s domestic note issuance programme, the Bank of Botswana acting as the ministry’s agent in the capital market, auctions Treasury Bills and bonds every month to raise debt funding for the budget.

The ministry has increased the programme’s ceiling twice since 2020, moving from P15 billion to P30 billion in September of that year, and then to the current P55 billion in March 2024. The first increase was to finance COVID-19 spending, whilst the second and the planned third are due to widening deficits associated with the prolonged downturn in diamonds.

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ECONOMY

Gov’t eyes domestic debt ceiling increase to P85bn

The Finance ministry this week approached legislators with a request to increase the limit on the main platform used for domestic borrowing from P55 billion to P85 billion, a move that, if approved, will be the third adjustment since 2020.

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