The government is set to sell NT$170 billion (US$4.73 billion) in treasury bonds in the second quarter to finance debt repayment and funding for infrastructure construction, the Ministry of Finance said in a statement posted on its Web site yesterday.
These will cover NT$140 billion in Type-A bonds tagged for debt repayment and special budgets and NT$30 billion in Type-B bonds for infrastructure.
Under the ministry’s definition, Type-A bonds pertain to development funds that are not self-redeeming (or interest is not deductible), while Type-B debts are self-redeeming.
While the planned second-quarter treasury-bond sales will be 8.1 percent lower than the NT$185 billion sold in the current quarter, they will be 13.33 percent higher than the amount sold in the same period last year, ministry data show.
Apart from the regular five-year, 10-year, 20-year and 30-year Type-A bonds to be issued each month next quarter, the ministry said it planned to issue NT$30 billion in 20-year Type-B bonds in May on behalf of the Ministry of Transportation and Communications to meet infrastructure construction needs.
The government faces a NT$159 billion deficit this year following a revised NT$167 billion deficit last year, the Directorate-General of Budget, Accounting and Statistics said on Aug. 19.
Last year, the government issued NT$610 billion in treasury bonds to fund the state treasury and cope with special budget needs. That was up from the NT$470 billion in treasury bonds issued in 2009, ministry tallies showed.
The ministry did not provide figures for its total planned bond sales this year.
According to the ministry’s statement, the government plans to auction NT$30 billion in 20-year bonds on April 11, NT$40 billion in five-year bonds on April 26, NT$30 billion in 30-year bonds on May 10, NT$30 billion in 20-year bonds on May 23 and NT$40 billion in 10-year bonds on June 7.
Apart from the bond issues, the ministry plans to sell NT$60 billion in treasury bills in the second quarter, down from the NT$70 billion sold in the first quarter, to help state coffers meet short-term capital needs and repay debt.
The NT$60 billion treasury bills include NT$30 billion in 364-day bills to be sold on April 7 and NT$30 billion in 91-day bills to be auctioned on April 29, the statement said.
Last year, the government issued NT$335 billion in treasury bills, 23 percent less than the NT$435 billion sold a year earlier, ministry data showed.
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