The government has sold Treasury bills (T-bills) worth MVR 3 billion to cover government expenditures.
According to information disclosed by the Finance Ministry on Monday, MVR 3.06 billion worth of T-bills have been sold. The T-bills comprised various repayment periods: MVR 948 million for a 28-day term, MVR 230 million for a 98-day term, MVR 119 million for a 183-day term, and MVR 1.76 billion for a 364-day term.
The interest rate on the T-bills ranges from 3.50 percent to 4.60 percent.
According to the latest figures from the Finance Ministry, the government owes MVR 73.6 billion on T-bills and bonds.
