Ministry of Finance launches sale of government bonds worth trillions of kip

16/03/2023 16:22
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KPL (KPL) On Mar 16, the Ministry of Finance announced its official launch of public sale of government bonds through Lao Securities Exchange. The bonds include 2.5 trillion kip in local currency and 50 million dollars in US currency.

 

(KPL) On Mar 16, the Ministry of Finance announced its official launch of public sale of government bonds through Lao Securities Exchange. The bonds include 2.5 trillion kip in local currency and 50 million dollars in US currency.

“Previously, the Ministry of Finance in cooperation with the Lao Securities Commission Office, BCEL-KT Securities Co., Ltd, Lanexang Securities Public Co., Ltd and Lao-China Securities Co., Ltd sold government bonds through the Lao Securities Exchange between 2018-2022. The bonds included 5.9 trillion kip in local currency and 100 million dollars in US currency and we realized that all sectors extended good cooperation thus making the sale a success. The Ministry of Finance paid principal and interest to investors on time so we won their trust and they decided to invest in the government bond,” said Director General of the Department of State Asset Management, Ministry of Finance, Sisovath Souvannachoumkham.

The latest batch of the government bonds have been being sold since February 2023.

Realizing the current economic situation, the ministry has increased the amount of government bonds and raise the interest rates for local-currency bonds to attract investors.

The annual interest has been raised to 5.8%, 6.9%, 7.6%, 7.75%, 7.9% and 8.15% for one-, two-, three-, five-, seven- and 10-year bonds, respectively.

Meanwhile, investors holding government bonds in US currency will receive an annual interest of 5%, 5.5%, 6%, 7%, and 8% for their one-, two-, three-, five-, seven- and 10-year bonds, respectively.

The government will spend money from selling its bonds to balance its budget and invest in government projects, according to Mr. Sisovath Souvannachoumkham.

KPL

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