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Local financial market: $60 million in open treasury bills

10/11/2022
Categories: Index/Markets

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In a press release, the Minister of Finance announced that an auction of indexed Treasury Bills worth CDF 60 billion would be opened on Tuesday, November 8, 2022.

“Economic operators or individuals interested in buying financial securities worth CDF 60 billion over three months of maturity are required to Deposit their subscription no later than Tuesday, November 8 before 11:00am at the Central Bank of Congo.” This is reported in a press release from the Ministry of Finance. Indeed, it indicates that the government intends to raise 320 billion Congolese francs through treasury bills in the fourth quarter.

In reality, treasury bills are debt securities issued by the government that are safe, easy to understand, and relatively priced accessible and popular with investors. As a result, anyone who buys a treasury bill, lends money to the State and becomes, in a way, its creditor.

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