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Treasury Unlikely to Adjust R774bn outlined for 2020/21 Issuance

SOUTH AFRICA
  • SA Treasury is unlikely to "adjust its in-year bond auction levels due to the short time period remaining after the presentation of the 2021 budget, despite being ahead of target
  • Total borrowing requirement for the 2020-21 fiscal year would be 774.7 billion rand outlined in October 2020
  • Treasury says any over-funding would then contribute toward high cash balances that can be used in the subsequent fiscal years to fund part of the budget deficit
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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