Sunday, 19 August 2018 20:48

Finance Minister On Housing Bonds

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Minister of Finance Colm Imbert says the response to the National Investment Fund Bonds was a major vote of confidence from the public. 

He said despite many critiques from the opposition, the NIF succeeded in reaching its target. The Finance Minister was especially surprised by the investment in the 20-year bond, which suggests great faith in the economy over time.

Meanwhile, the Minister of Finance says the success of the NIF Bonds has encouraged the government to look to other bond options, with Housing Bonds next on the agenda.

On Tuesday, Prime Minister Dr Keith Rowley announced the planned use of housing bonds. However, on Saturday the Minister of Finance gave further details on that plan.

He explained the Housing bonds, which will be guaranteed by Government, will be issued in 2019 to finance the construction of affordable housing. He said bondholders will get priority in the allocation process.

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