Govt borrowing `still within limits`
Government’s debt is still within the statutory caps which limit it to borrowing within 20 percent of the Gross Domestic Product, the Assistant Finance Minister has said.
Answering a Parliamentary question on Monday, Charles Tibone said at present, government’s external debts comprised P10.5 billion owed to the African Development Bank and P1.2 billion owed to the World Bank’s International Bank for Reconstruction and Development (IBRD).
The African Development Bank loans are for budgetary support and the Pandamatenga Agricultural Infrastructure project.
Apart from these, government issued bonds and treasury bills valued at P2.6 billion during the 2009/10 financial year.
Tibone said the figures translated to [continue reading]