01.05.2001
Gov’t auctions NT$70b worth of 10-year bonds

The government issued NT$70b worth of 10-year bonds yesterday at an average rate of 5.226%. This compares to a rate of 5.770% in June 2000. The government is to auction a total of NT$180b worth of bonds in 1Q01, with NT$60b worth of 20-year bonds to be sold in Feb. and NT$50b of 15-year bonds in Mar. The government announced it will auction a total of NT$260b of bonds in fiscal 2001, lower than the NT$400b originally planned. This is equivalent to 16.5% of total 2001 expenditure and above the government’s statutory 15% ceiling. The 2001 budget calls for expenditure of NT$1.576t against revenue of NT$1.380t.
Irmak Surenkok