BUSINESS – Treasury bonds to go on sale

Burma will sell government treasury bonds beginning later this month in a bid to support economic stability, said a report in Xinhua, quoting the Union Daily newspaper. Bonds will be sold through private banks via tender offers beginning on 28 January, according to the Central Bank of Myanmar. Interest rates will be set according to the floating market rate on the day of sale. The Central Bank issued treasury bonds in 1993 and 2010, but low interest rates – between 8.75 and 9.5 percent on two-, three- and five-year bonds – led to low sales.