In a bid to fund its operations, the government of Zimbabwe has issued yet another batch of treasury bills worth $300 Million, New Ziana reports. Reportedly the latest public auction is for 365- day treasury bills, which will be used solely to fund government operations.
A statement by the RBZ in connection with the new TBs issued said:
The Reserve Bank of Zimbabwe (RBZ) hereby invites financial institutions including commercial banks, building societies, POSB and IDBZ, to subscribe to treasury bills amounting to three hundred million dollars
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In the past 2 months, treasury held 3 auctions and raised $190 million for the government. Investors are restricted to a maximum of $2 million investment each.
More: New Ziana