Zimbabwe Said to Sell Debt to Select Investors as Auctions Fail
This article is for subscribers only.
Zimbabwe’s government has raised $42.5 million by selling debt of up to one year’s duration to selected investors after public Treasury Bill sales by the central bank failed, a finance ministry official said.
About $20 million of the notes were bought by an insurance company through the private placement with the rest coming from four banks, the person said, asking not to be identified because the transactions haven’t been made public. He also declined to name the financial institutions or say why the money is being raised.