HILARY JOFFE: Treasury needs to be open about costs and benefits of its borrowing
The National Treasury is borrowing more on the market than it theoretically needs to
22 August 2021 - 00:08
What is it that the National Treasury knows about the future that we don’t? The question arises because it is borrowing more on the market than it theoretically needs to. With revenue now expected to run well ahead of budget projections in the current fiscal year, the government will have less need for financing. Yet the Treasury has stuck to its weekly borrowing schedule on the bond market, in the process amassing a quantum of cash...
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