S. Korea to sell 8 tln won of Treasury bills through Feb.
SEOUL, Jan. 13 (Yonhap) -- South Korea plans to sell a total of 8 trillion won (US$7.3 billion) worth of Treasury bills in the first two months of the year to fund its expansionary fiscal policy, the finance ministry said Wednesday.
The ministry plans to issue 2 trillion won in bills with a maturity of 63 days this month, and the remaining 6 trillion won will be floated next month, according to the Ministry of Economy and Finance.
Treasury bills are usually floated to raise money to cover short-term financial shortfalls and thus are generally sold with a maturity of less than a year. The debts should be repaid within the year of issuance.
The ministry said the proceeds from the Treasury sales will be used to support state programs designed to tackle the fallout of the COVID-19 pandemic.
sooyeon@yna.co.kr
(END)
-
1 (News Focus) S. Korea drums up measures to revive consumption, create jobs next year amid pandemic
-
2 S. Korean companies bet big on hydrogen for zero-emission goal
-
3 S. Koreans feel pinch of rising housing costs amid economic downturn
-
4 Korean Air's Asiana takeover heralds seismic shift; bumpy roads lie ahead for completion
-
5 (News Focus) Biden's victory heralds more multilateral approach, environment, pro-labor policies in focus