State borrowing within target range

IN AN effort to avoid crowding out the private sector from domestic market borrowing, Government has continued to borrow within target range despite huge offers from investors.
Last Thursday, Government, through the Bank of Zambia (BoZ), indicated to borrow K1.4 billion through issuance of treasury bills tender number 23 of 2021, but total bids received amounted to K1.111 billion but only K1.009 billion was accepted.
In the 364 days’ tenor, bids received amounted to K881.14 million but only K786.97 million was borrowed, while K19.98 million was offered in the 273 days’ tenor, with only K18.59 million being accepted.
In the 182 days’ tenor, K77.42 million was received as bid amount but only K73.92 million was accepted, with K129.53 million being borrowed against a bid amount of K132.60 million in the 91 days’ tenor.
Meanwhile, the Kwacha is expected to receive support from the month-end tax conversions after trading on CLICK TO READ MORE

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