-
-
The Central Bank of Kenya received voluntarily Ksh. 20.2 billion out of Ksh. 21.1 billion with the switch auctions having a subscription of 83 percent.
-
The switch is part of the initiative that has helped slow down the Treasury bills by 6.9 percent to Ksh. 907.7 billion between June 2019 and June 2020.
-
Investors who bought Ksh. 25.6 billion worth of one year Treasury bill in mid last year were given an alternative of converting it to 6-year tax-free infrastructure bond which has a 10.2 percent interest rate by the Central Bank of Kenya, CBK.
This being the first conversion of a treasury bill to a long-term bond, it has and will help the government in delaying repay of Ksh. 20.2 billion owed to the investors.
The switch is part of the initiative that has helped slow down the Treasury bills by 6.9 percent to Ksh. 907.7 billion between June 2019 and June 2020.
Also Read – KENYAN BANKS CUT DIGITAL LOANS OVER CRB LISTING RELIEF
CBK 2020 annual report clarified that it conducted an inaugural switch in the month of June 2020 aiming at increasing the maturity profile of the present debts and consider balancing the T-bill portfolio within the 364-day stipulated while accounting for the 86.5 percent.
The Kenyan government is yet to give out another switch bond however, CBK governor, Patrick Njoroge, explained that the “alternative” will continue to appear since there is the pressure of repaying maturity debt.
The Central Bank of Kenya received voluntarily Ksh. 20.2 billion out of Ksh. 21.1 billion with the switch auctions having a subscription of 83 percent.
However, the Treasury bills decreased by 6.9 percent, additionally, domestic debt maturity in all securities increased from 4.94 years in the month of June 2019 to 5.46 years in June 2020 having average maturity in bond going up to 7.9 years.
Governor Patrick Njoroge said that with a lot of securities that are falling due, there would be a general match in new security.
Quotex Promo Code: Deposit Bonus for 30%, 50% & 100%, April 2023
We are pleased to announce that our website (Joon Online) has come to an agreement with Quotex to...
Olymp Trade Promo Code – 30%, 15%, 50% Bonus for April 2023
Olymp Trade Promo Code – 30%, 15%, 50% Bonus updated for April 2023 Olymp trade bonuses are...
13 Top Ways to Make Money With or Without Internet
The Internet is full of opportunities to earn money, but are they all worth your time? The answer...
Legit Game Apps That Pay Downloaders in 2023
There are many game apps on the market, but not all of them are free to download. And, not all of...
How to Make Money Blogging in Kenya {2023}
I have been blogging for 3 years now. No, almost 4 years. And in the 4 years period, I have earned...