Malta government securities and debt instruments with a maturity of more than one year are not expected to exceed €450 million for the financial year 2020, according to the Treasury.
In an official announcement demanded by law, the Ministry of Finance and Financial Services said the funds raised would be applied mainly to finance the government’s borrowing requirements for 2020.
These include the redemption of six stock issues, amounting to €461,539,762, due to mature on 25th April (4.6 per cent MGS 2020 (II) - €158,327,200; 10th June (5.2 per cent MGS 2020 (I) - €52,407,462; 31st July (3.35 per cent MGS 2020 (IV) - €64,040,000; 26th September (2 per cent MGS 2020 (V) - €138,484,400; 29th October (FRN MGS 2020 [VI]) - €47,850,000; the Ex-Church property stock redeemable between 1st January and 31st December; and the 7% MGS 2020 (III) - € 430,700 issue.
The funds will also be served to make changes in the government debt portfolio, as and when required, in line with official debt management policies.
The Treasury is planning to fund the financing requirements for 2020 over four to five issues.