Taiwan to increase government bond issuance

Taiwan announces plans to raise around NT$120 billion from issuing additional government bonds.

The Ministry of Finance of Taiwan is pressing ahead with plans to amend the Government Bond Law so that the government can raise additional funds to support its domestic expansion program. The proposals now await approval from the Executive Yuan, Taiwan's main administrative body.

The government targeted at the beginning of 2001 to raise between NT$120 billion $3.6 billion and NT$135 billion in additional funds from the bond market. At the time it was unable to do so because it is limited by a law that only allows debt issues to make up 15% of its total spending.

Although it has not been decided whether the restriction will be raised, the law...

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