Government made an additional payment for outstanding coupons on Thursday, March 23, 2023.

According to a statement by the Finance Ministry on March 24, it explained that noted that “the payments of cover coupons on both the 2-year note that matured on February 20, 2023, and the 20-year note due on February 20, 2023.”

“Following the Press Release issued by the Ministry of Finance dated Tuesday, March 14, 2023, the government is pleased to announce that additional coupon payments have been made on Thursday, March 23, 2023,” parts of the release said.

It also noted that payments on the principal of the 2-year note maturing on February 23, 2023; as well as payments on subsequent maturities, will be communicated in due course.

The delay of the payments caused some uneasiness among bondholders but the ministry assured that the necessary steps towards the restoration of macro-economic stability.

“The Ministry of Finance once again takes this opportunity to thank all stakeholders for their patience and cooperation, as the government continues to work towards the restoration of macro-economic stability,” the statement added.



SSD/FNOQ