T-Bills earn govt less as cost of borrowing rises

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

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
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IPPmedia
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