2022 Annual Borrowing Plan is published
October 03, 2022
The Ministry of Finance, National Planning and Trade has published its Annual Borrowing Plan, for the year.
The 2022 Annual Borrowing Plan (ABP) is prepared in accordance to the Public Debt Management Act section29, which requires the Debt Management Office of the Ministry of Finance, National Planning and Trade to prepare and publish such a plan.
The ABP describes how the annual financing needs will be met during the budget year. It has been developed in accordance with the targets and benchmark indicators of the Medium-Term Debt Management Strategy(MTDS)and is based on the macroeconomic and fiscal frameworks presented in the 2022Revised Budget.
As the Government entered on the IMF reform program in 2021, it was important to revisit its Annual Borrowing Plan and update it with the aim of being more informative and to promote transparency and predictability of debt management operations.
This facilitates sharing of information with other stakeholders (monetary policy, budget execution, cash management) for macroeconomic management, and enables investors to better plan their investments.
By publishing the ABP, the Debt Management Office ensures that the Government financing needs are met on a timely basis, borrowing is done at the lowest possible cost with prudent degree of risk and additionally, enhance predictability of government borrowing and helps promote the development of the domestic market.
The plan will be complemented by the quarterly issuance calendar for government securities, which provides indication of the domestic borrowing operations of the Government over the fiscal year, the instruments to be issued and indicative timing of such borrowings.
It is crucial to note that the ABP has been prepared in consideration of the forecasted financing needs of the Government using the best information available at the time of publication. The estimates are based on a range of economic and other parameters hence there may be the need to revise the ABP.
To access the plan, click on the link below.