Gov’t pushes limits with P2.4bn debt target

Balancing the books: Finance Minister, Peggy Serame, during the signing of the Africa50 equity purchase last month. The minister is due to present the budget speech on February 6 outlining the health of government’s finances PIC: MBONGENI MGUNI
Balancing the books: Finance Minister, Peggy Serame, during the signing of the Africa50 equity purchase last month. The minister is due to present the budget speech on February 6 outlining the health of government’s finances PIC: MBONGENI MGUNI

Government is hoping to raise P2.4 billion in debt from the capital market today (Friday), the largest single bid for funds under the domestic borrowing programme in nearly two years.

The auction of three treasury bills and two bonds by the Bank of Botswana (BoB) falls under the P30 billion domestic borrowing programme approved by Parliament in September 2020 and designed to plug budget gaps while improving the capital market’s depth.

However, since its approval by Parliament, the domestic borrowing programme has underperformed, with the dealers demanding returns or yields higher than the BoB and government have been willing to accept.

Editor's Comment
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