Government floats $2,1 billion TBs

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Reserve money increased to $29,2 billion

GOVERNMENT says it wants to raise $ 2,1 billion through Treasury Bills (TBs) in order to finance its operations and cash flow management.

In a statement by the Reserve Bank of Zimbabwe (RBZ) on Wednesday, financial institutions are being invited to subscribe to the government treasury bill tender.

“The Reserve Bank of Zimbabwe (RBZ) on behalf of the Government of Zimbabwe hereby invites Commercial Banks, Building Societies, POSB and IDBZ to subscribe to Government Treasury Bill Tender amounting to Two Billion One Hundred million dollars (ZW$2,100,000,000.00),’ the RBZ said.

TBs are financial instruments issued by the government into the market to raise funds for public spending and are often deemed secure.

“Applications must be for a minimum amount of one million Zimbabwe dollars. The number of bids per investor is restricted to two and copies of the application forms are available from RBZ local dealers.

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