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Gov't looks to raise $1.4 billion via treasury bills

 
The government will be borrowing $1.4 billion next week as part of the $158.4 billion it plans to raise to help fund this fiscal year's $1.6 trillion budget. 
 
The administration will seek $700 million from a 91-day treasury bill and another $700 million from a 182-day treasury bill on September 3. 
 
The minimum investment is $5,000, and the interest earned will be taxed at 25%. 
 
The 91-day bill will mature on December 5, while the 182-day bill will mature on March 6, 2026. 
 
The value of outstanding treasury bills now stands at almost $11 billion.


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