Gov't raises $14 billion
published: Tuesday | April 29, 2003

THE GOVERNMENT has raised $14.3 billion from the debenture issued through the Ministry of Finance and Planning on the local market last week.

The taxable debenture, which was opened between Wednesday and Friday, was intended to raise funds to help finance the budget. A debenture is a long-term debt instrument. With a tenor of 19 months, the instruments bear an interest rate of 36.25 per cent.

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