Govt paper scaling meant to fund ambitious budget – ZanacoBy BUUMBA CHIMBULUSCALING up of Government paper by about 53 percent is meant to fund the 2022 national budget as Zambia’s international credit lines are currently constrained due to its default status.The budget has to be financed and one of the ways is the domestic market which is linked to the Government paper prospectus while at the same time there is also taxation, according to the Zanaco plc Chief Risk Officer, Mutisunge Zulu.According to the 2022 first quarter auction calendar for government securities, the Bank of Zambia will now offer K2.0 billion worth of Treasury Bills every fortnight from the K1.4 billion, while its monthly bond offerings has widened to K2.6 billion from K1.5 billion in 2021.Responding to this measure, Mr Zulu explained that the increase was meant to fund an ambitious budget for this year.In October last year, Government proposed to spend K173.0 billion in […]
Govt paper scaling meant to fund ambitious budget – Zanaco
