South Africa Cuts Weekly Bond Auctions, Plans Bond Buyback Program
The National Treasury said it would reduce weekly fixed-rate bond sales and launch a bond buyback program as part of efforts to demonstrate fiscal discipline and lower debt levels.
South Africa’s government said on Wednesday it would reduce weekly sales of fixed-rate bonds and launch a bond buyback programme. The steps are part of efforts to demonstrate fiscal discipline and lower debt levels. The National Treasury said it would cut the amount of fixed-rate bonds sold at auction each week.