Gov't ups borrowing, seeks P1.95bn

Friday, November 27, 2020

Government will today (Friday) return to the capital market seeking P1.95 billion in debt, the second approach under the newly increased domestic borrowing limit of P30 billion.

The government, through the Bank of Botswana (BoB), borrows quarterly from the local capital market through Treasury Bills and bonds, mainly to develop the local market’s capacity, but increasingly to fund gaps in the national budget.

Government’s finances have been thrown into crisis by the coronavirus (COVID-19), which has devastated mining, tourism and other sectors, which are traditional lines of revenue for the national budget.

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