The Mozambican government plans by next week to issue Treasury Bonds worth 500 million meticals (US$16.2 million), in the first of four bond issues outlined in the Domestic Debt Plan for 2013, according to Mozambican newspaper Notícias.
For this year the Plan includes issuing Treasury Bonds, through which the State funds itself by offering more attractive rates of interest than area offered by retail banks, of up to 3.5 billion meticals (US$113.5 million).
Mozambique’s Finance Minister, Manuel Chang, said that issuing these securities on the domestic market did not mean reduce credit to the economy, as the overall amount of the bond issue had been decided as part of coordination between monetary and fiscal policy.
The minister this week certified 14 financial institutions as Operators Specialised in Treasury Bonds (OEOT), which are able to operate in the primary and secondary Treasury Bonds market,” the minister said.
Chang called on certified operators to ensure that Treasury Bonds were properly placed on the marker and that they are available to the public, encouraging Mozambicans to spend their savings on these bonds. (macauhub)