BoT exceeds offer as borrowing cost drops

BoT figures show lending rates fell in June to 6.07 per cent from 6.10 per cent in May

Interbank rate fell to 4.40 per cent on Tuesday from 20 per cent early this month

Government’s plan to raise Sh135 billion from institutional investors through issuance of short-term debt obligation hit a snag on Wednesday as patrons sought to earn more by raising yields on Treasury Bills (T-Bills).

Treasury bills have been oversubscribed and the borrowing costs for the government have been soaring.

The World Health Organisation says more than 1,900 people have now died in West Africa's Ebola outbreak, 40% of them in the past three weeks.

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Sobriety must prevail in borrowing
Daily News
THE marathon National Assembly session kicks off in Dodoma today and its main business will be to deliberate on the government's budget for the 2014/2015 fiscal year. Finance Minister Ms Saada Mkuya Salum said in Dar es Salaam last week, that the ...

Investors are snapping up short-term Treasury bills (T-bills) after months of apathy. That means the government is increasingly borrowing funds locally.

State borrowing will continue - Malima
Daily News
THE government will continue borrowing in order to implement development projects in the country, the Deputy Minister for Finance, Mr Adam Malima, told the National Assembly here. Mr Malima told the House that the government will not stop borrowing ...