Treasury says the market funding will be used to meet SA’s foreign currency commitments
Government plans to approach global capital markets to borrow an additional $11bn over the next three years, over and above the $3bn it still plans to raise on the international bond market before the end of March, as it said last year it would do.
The market funding, which Treasury said would be used to meet SA’s foreign currency commitments, will complement the more than $7bn that government has already borrowed over the past 18 months from international financial institutions including the International Monetary Fund , New Development Bank and World Bank, which recently agreed a $750m development loan to SA.
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