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Wednesday, June 19, 2024

Vietnam to issue VND400 trillion of G-bonds this year

The Saigon Times

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HCMC – The Government of Vietnam plans to launch VND400 trillion bond auctions on the Hanoi Stock Exchange this year, the local media reported.

In a recent directive on first-quarter budget management, the Ministry of Finance urged the Vietnam State Treasury (VST) and relevant departments to tighten fiscal oversight and policy compliance.

To fulfill borrowing requirements, the VST has been tasked with raising VND108 trillion through the sale of G-bonds on the domestic market in the first quarter. The focus will be on tenures of five years or longer, in accordance with National Assembly Resolution 07-NQ/TW dated November 18, 2016.

Last year, the VST auctioned G-bonds worth nearly VND298.5 trillion, achieving 98% of the adjusted target of the Ministry of Finance.

All G-bonds will be auctioned on the Hanoi Stock Exchange. The diversification of issuance maturities aims to restructure the G-bond portfolio towards longer durations. This move is intended to alleviate short-term debt repayment pressure and reduce borrowing costs, aligning with the Government’s financial restructuring agenda.

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