Govt borrowing cost soars as Treasury bills oversubscribed

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).

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

The Bank of Tanzania exceeded its offer of the Treasury Bills by 130 per cent as the oversubscribed auction recorded a decline in the borrowing cost.

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

>Tanzania Coalition of Debts and Development (TCDD) wants the Parliament to be empowered so that it can intervene whenever the government wants to borrow.

IPPmedia
'Most govt projects still heavily dependent on borrowing'
IPPmedia
Borrowing remains the government's central funding option to finance development projects, Finance Deputy Minister Adam Malima said yesterday. Addressing the National Assembly in Dodoma, the deputy minister said the government will not stop ...
State borrowing will continue - MalimaDaily News

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The Treasury yesterday took a swipe at Chadema leaders for claiming that the government’s decision to sell its shares in the Tanzania Breweries Limited (TBL) and Tanzania Cigarette Company (TCC) was aimed at raising funds for CCM campaigns.

Govt Tables Six Bills for First Reading in Parliament
AllAfrica.com
Dodoma — THE government tabled for first reading in the National Assembly six Bills which are expected to go through all approval processes and passed during the ongoing sessions of the House. A timetable issued on the Parliament website indicated that ...
Bill tabled for first readingThe Star Online

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