Myanmar to sell gov’t treasury bonds thru competitive bidding system

The Central Bank of Myanmar is planning to sell long-term government treasury bonds through competitive bidding in addition to current two-year, three-year and five-year treasury bonds, an official report said Wednesday.

To prepare for issuing the long-term treasury bonds, the central bank has held a workshop involving experts from the Asian Development Bank and the Asian Bonds Market Initiative.

To promote public saving, the central bank issued three-year and five-year government treasury bonds in 10,000 and 100,000 kyats (12 and 120 U.S. dollars)in December 1993 in Yangon and and January 1994 in Mandalay.

A three-year government bond of 1 million kyats was issued in April 1996 and a five-year government treasury bond of that denomination was issued in January 1997.

Beginning January 2010, a two-year government treasury bond of 10,000 kyats, 100,000 kyats, 1 million and 10 million kyats have been extensively issued to the public.

 

Source: Xinhua

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