Ethiopia May Start Regular T-Bill Auctions, Capital Reports
March 22, 2010 at 2:33 PM Leave a comment
T-Bill
By Jason McLure
March 22 (Bloomberg) — Ethiopia is considering starting fortnightly treasury bill auctions in an effort to stem monetary growth in the Horn of Africa nation, Capital said.
Officials at the central bank and finance ministry have met with experts from the World Bank and International Monetary Fund to design an auction method, the report said, citing an unidentified central bank official.
The new system would replace the current, irregular system of auctions and increase yields on treasury bills, the report said.
Ethiopia’s government said it was “committed to active use of Treasury bill auctions” in an Aug. 7 letter to the IMF that was part of a $240.6 million financing package from the Washington-based lender.
To contact the reporter on this story: Jason McLure in Addis Ababa via Johannesburg on pmrichardson@bloomberg.net.
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