South Korea plans to sell 5.5 trillion won ($5.02 billion) worth of Treasury bills in four separate auctions in April, the finance ministry said Friday.
“The extra funds generated will be used to cover temporary shortfalls in the money supply and make it possible to push forward various state-supported projects in the first half of the year,” the ministry said. The money generated can further help stabilize the management of state-controlled funds.
The amount to be sold is the same as last month.
The bills will be sold by 23 banks, brokerages and other financial institutions that buy the government’s monetary stabilization bonds.
The ministry said the outstanding amount of Treasury bills should stand at 11 trillion won by the end of the month. (Yonhap)
