Govt to float infrastructure bond

via Govt to float infrastructure bond | The Herald January 4, 2016

GOVERNMENT will this year float an infrastructure development bond with a view to mobilising resources for various capital projects.

The Minister of Finance and Economic Development Patrick Chinamasa has already sounded insurance and pension houses to prepare to subscribe to the infrastructure development bond.

“I have given notice to insurance and pension companies that I shall float an infrastructure bond to be subscribed by them. This is in the mobilisation of resources to put our infrastructure which is critical to our economic take off,” said Minister Chinamasa recently.

He said domestic resource mobilisation is not an end to financing development needs but is a must born out of necessity.

“As we try to ease pressure on the budget and to meet financing requirements for our infrastructure, Treasury will be issuing longer term instruments such as bonds,” said Minister Chinamasa.

“In order to improve transparency and confidence in the trading of Government securities, as well as ensure that the return on the securities reflects market conditions, issuance of securities will also be in the manner of the auction system,” he said.

The Government debt instruments will be tradable on the Zimbabwe Stock Exchange just like other stocks.

The ZSE has said that it is readying for trade in such instruments.

Overall requirements for infrastructural development for 2016 amount to $2,7 billion.

COMMENTS

WORDPRESS: 6
  • comment-avatar
    Zambuko 5 years ago

    Grace.

    Robert?

    Shall we buy some Zimbabwe government debt instruments to boost our retirement nest egg?

    Really?

    No, I suppose not.

  • comment-avatar

    ZvayangovaHerald. No balance. No critique. All they need to do is confess they have always used chicanery in elections, pack theirs and go leaving the people to figure out how the country can prosper. They always talk of borrowing and never about paying. Where are the billions they borrowed in the past? Where has the East gone now that direction seems pointed at poverty stricken citizens. Ngavaende tisare togadzira upfumi hwenyika. 35 years vachidofora vachipradza. Iko kusasvoda. Hanzi to frota mabonds. Ngavashandise mari nemazvo. Ngavarwe neuori. Ngavarege vakunda musarudzo vatungamire.

  • comment-avatar
    R Judd 5 years ago

    Yup – and so they rob our pension funds

  • comment-avatar

    they can float them, but they will sink straight away.
    no-one, not a single soul, has any faith in the honesty of the zanu pf government.
    as zambuko says – neither robert nor grace will buy a single bond.

  • comment-avatar

    These so called “Bonds” are just a last ditch attempt to print money, nobody is going to buy them. They did this before and reported that they had raised many millions from investors around the world, I suspect that the only investors were the reserve bank itself to make it look like people still thought zim a good investment.

  • comment-avatar

    This simply signals “intensified looting” of pensions funds so that voice-less pensioners suffer whilst the little resources entitled to them are diverted to pay security personnel & Zanu pf corruption. What a pity!!! Surely until when should an illegitimate government be allowed to rob its hapless citizens on daily basis??? Nxaaaa!!!