{"id":7839,"date":"2020-04-29T21:03:13","date_gmt":"2020-04-29T21:03:13","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=7839"},"modified":"2020-04-29T21:03:13","modified_gmt":"2020-04-29T21:03:13","slug":"bot-takes-more-funds-from-debt-instrument","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument","title":{"rendered":"BOT TAKES MORE FUNDS FROM DEBT INSTRUMENT"},"content":{"rendered":"
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AfricaPress-Tanzania:<\/strong> THE Bank of Tanzania (BoT) has accepted more funds above the amount sought to be raised through the government securities auctioned in the last three consecutive trading sessions.<\/p>\n

The government raises funds through various debt instrument to fund the long term development projects that will start generating income before the instrument matures.<\/p>\n

Some of the long term infrastructural projects that benefit from the funds include hydropower, roads, railways, bridges, ports, airports as well as social services like hospitals and schools.<\/p>\n

The implementation of the projects would stimulate business growth, contribute to improved living standards and the government collects more revenue.<\/p>\n

Orbit Securities said in its weekly synopsis that BoT seems comfortable with current yields and interest rates as seen in the last three Treasury auctions where it accepted more than offered, thus supporting the yields.<\/p>\n

\u201cThe Bank achieves two main objectives with the move,\u201d to secure fund for budgetary expenditure and provide safe haven for portfolio investors, the report said.<\/p>\n

Orbit added: \u201cThe Bank [BoT], secures increased funds to cover government\u2019s budgetary expenses while revenue sources for the government to fund various operations to curb spread of coronavirus.<\/p>\n

\u201c[Also BoT], provides a safe haven with sufficient return for public\u2019s funds as investment opportunities are starting to feel the impact of Covid-19,\u201d Investors\u2019 appetite on the most paying government paper, the 20 year Treasury bond, slowed down but the central bank accepted 45 per cent more than it offered last Wednesday.<\/p>\n

BoT offered the usual 117bn\/-and the public tendered 276.86bn\/- from 440 bids.<\/p>\n

\u201cSuccessful amount [was] somewhat 45 per cent above the offer size,\u201d the report said.<\/p>\n

The previous 20 years auction this February, with a similar offer, BoT had received 566 bids worth 450.87bn\/-.<\/p>\n

\u201cDuring the previous auction, the Bank accepted 3.0 per cent less of the offer size from 208 bids,\u201d Orbit said.<\/p>\n

The weighted average yield to maturity for 20 years government bond auctioned last mid-week lost 44.4bps to 15.8537per cent.<\/p>\n

\u201cAlthough the BoT had an opportunity to lower the yield further than it did, the bank opted not to, by accepting more than what the Bank offered,\u201d the report showed.<\/p>\n<\/div>\n

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AfricaPress-Tanzania: THE Bank of Tanzania (BoT) has accepted more funds above the amount sought to be raised through the government securities auctioned in the last three consecutive trading sessions. The government raises funds through various debt instrument to fund the long term development projects that will start generating income before the instrument matures. Some of […]<\/p>\n","protected":false},"author":84,"featured_media":1468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,3579,3580],"class_list":["post-7839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-bot","tag-debt-instrument","tag-funds"],"yoast_head":"\nBOT TAKES MORE FUNDS FROM DEBT INSTRUMENT - Tanzania<\/title>\n<meta name=\"description\" content=\"THE Bank of Tanzania (BoT) has accepted more funds above the amount sought to be raised through the government securities auctioned in the last three\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOT TAKES MORE FUNDS FROM DEBT INSTRUMENT\" \/>\n<meta property=\"og:description\" content=\"THE Bank of Tanzania (BoT) has accepted more funds above the amount sought to be raised through the government securities auctioned in the last three\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-29T21:03:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/01\/3ca87f5bddc8fc9235115c47d4ff70e5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BOT TAKES MORE FUNDS FROM DEBT INSTRUMENT\",\"datePublished\":\"2020-04-29T21:03:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/01\/3ca87f5bddc8fc9235115c47d4ff70e5.jpg\",\"keywords\":[\"BoT\",\"DEBT INSTRUMENT\",\"funds\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/bot-takes-more-funds-from-debt-instrument\",\"name\":\"BOT TAKES MORE FUNDS FROM DEBT INSTRUMENT - 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