The government has told the International Monetary Fund that its immediate priority remains issuing sufficient treasury bills to finance the government deficit

According to the government, its debt management in the near term will focus on ensuring sufficient domestic financing before focusing on structural market improvements over the medium-term.

“Our immediate priority remains to ensure sufficient issuance of T-bills to finance the government deficit. At the same time, we will develop a roadmap for the gradual resumption of bond issuances in the coming years”, it stated in the IMF Economic Credit Financing programme.

“We will carefully manage domestic bond issuances to prioritise successful execution, favoring private placements. Any placement with non-residents would need to consider managing the potential volatility associated with capital flows and be compatible with the programme parameters:”, it added.

It continued that once domestic market access is more firmly established, the primary issuance will switch to competitive auctions.

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