KATHMANDU, Sept 8: In a bid to raise internal debt for the second time this month, Nepal Rastra Bank (NRB) is set to issue development bonds worth Rs 10 billion on Sunday.
The central bank is preparing to issue a six-year development bond for the fiscal year 2086 BS.
Govt to raise Rs 3.91 billion internal debt
These bonds will be available for purchase by banks, financial institutions, non-bank financial institutions, insurance companies, organized associations, and even individual citizens.
The specific interest rate for the bond will be determined through a negotiation process. The bond issuance is scheduled for September 11, with discussions regarding the bond taking place until 3 PM on Sunday.
This move follows a series of bond issuances by the government since the month of Shrawan (mid-July to mid-August). In August, the government issued bonds on August 3 and August 10, each worth Rs 10 billion, followed by another issuance of Rs 5.84 billion on August 17 and Rs 10 billion on August 26. The government's objective is to accumulate domestic debt amounting to Rs 240 billion for the current fiscal year.
