Gov’t domestic securities borrowing fall in 2013 - Solomon Star News


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Gov’t domestic securities borrowing fall in 2013

11 June 2014

THE Government’s domestic securities borrowings fell in 2013 as the government service its debts according to the CBSI 2013 report.

The report stated that the government’s (SIG) domestic debt outstanding at the end of the year was $205.2 million, a reduction of $34.4 million compared to $239.6 million in December 2012. The domestic debt outstanding balance comprised of $37.6 million in Treasury Bills, $162.7 million in Restructuring Bonds and $4.9 million in other SIG special securities.

Debt repayment during the year totaled $39.0 million, of which $34.4 million was for principal and $4.6 million was for interest payments.

The major holders of domestic securities were the CBSI with 36.3 percent, Solomon Islands National Provident Fund (SINPF) with 35.9 percent, Commercial Banks with 23.0 percent, General Public with 1.9 percent and other Creditors with 2.9 percent.

The report stated that the decline in the outstanding balances for both the external public debt and domestic debt reflected the governments continued commitment towards its debt service obligations.

The following figure shows the composition of the Government domestic.