CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Botswana Mulls First International Bond Issue

Botswana Mulls First International Bond Issue

by Robert Lee, Tax-News.com, London

21 November 2003


Baledzi Gaolathe, Botswana’s Minister of Finance, has indicated that the country is ready to issue its first international bond in 2004 after the success of its maiden sovereign debt issue.

Speaking to Reuters during the OECD global investment forum in Johannesburg, the Finance Minster said the government plans to look into the possibility next year, stating the minimum size of the issue is likely to be $250 million.

"It (a global bond issue) will put Botswana on the international map. We should take advantage of our favourable ratings," said Gaolathe who told Reuters the proceeds will be used to "deepen our capital markets."

Last week, ratings agency Standard & Poor’s affirmed Botswana’s A-1 short and long-term currency ratings, assigning a ‘Stable’ outlook. One of Africa’s rare economic success stories, it is the only country in sub-Saharan Africa to have attained ratings from the major agencies.

Also, Moody’s Investors Services recently confirmed the country’s stable economic outlook which it said reflect sustained economic growth and an extremely favourable debt and liquidity position.

In March this year, Botswana undertook its first government bond issue of which around 1.75 billion Pula ($384 million) has been sold to date. The government hopes this will reach 2.5 billion Pula by the year’s end.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »