DRC Government to Raise $40 Million Through US Dollar-Indexed Treasury Bonds
The Government of the Democratic Republic of Congo (DRC) is set to raise $40 million through US dollar-indexed Treasury Bonds during an auction session on May 21, 2024.
“The Ministry of Finance announces the opening of an auction of Treasury Bonds in US dollars with an auction amount of $40 million. The interest rate is capped at 10%,” stated a press release signed by Finance Minister Nicolas Kazadi.
Key Details of the Financial Operation
.Maturity: 15 months
.Interest Payments: To be made over four periods
.Submission Date: Offers must be submitted by May 21, 2024, at the Central Bank of Congo (BCC) headquarters.
This financial operation aims to mobilize exceptional revenues for the central government to address budgetary gaps. For the 2024 financial year, the Congolese Government aims to mobilize over 800 billion Congolese Francs (CDF) through the local financial market, offering significant opportunities for bidders.
The issuance of indexed Treasury Bills and Bonds allows the DRC government to mitigate deficits in public revenue mobilization. By continuing to issue these financial instruments, the government seeks to secure additional resources to support its policy initiatives.
This auction represents a strategic move to strengthen the country’s financial stability and attract investment through well-structured financial instruments.
