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Officials Confirm India Open to More Bond Buybacks If Needed

INDIA
  • An unnamed Indian official speaks to reporters to confirm that the government will take a call on more bond buybacks, which are aimed at saving on interest and debt servicing payments. The official adds that the budget has enough cushions for oil volatility.
  • The bond buyback being referenced there is the INR 400bln op today aimed at easing liquidity across the Indian banking system - largely seen as a response to revenue collection exceeding central estimates in the latest tax year - and should aid liquidity returning back to neutral halfway through 2024.

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