Honour Treasury Bills, banks plead

Not honouring Treasury Bills (TBs) maturities will have far reaching adverse consequences on the entire banking sector and the rest of the economy than honouring them, according to local banks' proposal to the Reserve Bank of Zimbabwe seen by Business Weekly.

At least RTGS$2,2 billion worth of TBs are expected to come to maturity this year and there are fears that the budget constrained Government will resort to rolling them over rather than pay them out.

In his 2019 National Budget Presentation Finance and Economic Development Minister Mthuli Ncube said Government would explore options for restructuring the TBs to longer tenure in consultations with market players.