We are not in good hands

[Ng Cheh Hwang]

National Debt
Singapore government is like Japan; we issue a lot of debts

So in the past 12-months, japan die die kept interest rates low, which resulted in cheap yen for your recent holidays

 

[Ng Cheh Hwang]

National Debt
However, if you follow the craze about T-bills in Singapore recently... ...
https://www.bloomberg.com/news/arti...sury-bills-are-a-hot-asset-with-record-yields

In the past, the yield was <1%pa
Now, about 4%pa

I calculated, in one month, we issue almost $7-10 billion of six-months T-bills (excluding the longer term ones, eg 1-year)
So for six-months T-bills also, our country borrows about $35 to 60 billion at anyone time.

4% - 1% = 3%pa
3% more per year for $40billion is $1.2billion more for cost of financing ( for six-months T-Bills) per year

This is only for 1 type of tenor. Our state coffers will burn a hole if you consider all other tenors T-bills and SGS bonds (1-year, 2-years, 10-years, etc)

 

[Ng Cheh Hwang]

National Debt
Min of Finance said our national debt is US$1.7 trillion
https://www.mof.gov.sg/news-publica...re-have-an-external-debt-of-US1-766-trillion-
Most of these debts were issued long ago, so most of them cost less than 3%pa.

Assuming (a low gauge) that we pay on average 3%pa a year when all these debts renew at new interest rates in the years ahead, we have to pay about US$50billion of annual interests.

Divide by population of 5million, it is about US$10000 per Singaporean (including every child) in interests-payable every year.
US$10000 per year, is about S$1000 per month per Singaporean.

 

[Ng Cheh Hwang]

National Debt

To raise these $$$ for our interest burden, we will have to sell more state lands, eg keppel PSA area, increase GST, up income taxes, etc
Eg. my van COE is now $85,000. @Froggy can buy a Lexus IS in Thailand to drive his dog around.

To avoid a currency crash like Japan, we will face higher interest rates. Then MAS tries to be bookmakers ourselves and introduced SORA, to replace SIBOR and SOR. hahahaa. Markets said that interest rates will be lower a year later, but the way that we manage our finances, even if singapore can lower interest rates, it will not be as low as before.

Eg. from 5%pa to 4.5%pa is lower
Lower doesn't mean low. 4.5% is still high.

 

[laksaboy]

Now you know why this happened. They can sugarcoat it with flowery language however they want.

MAS to raise $2.6 billion in first-ever sale of Singa bonds to finance infrastructure​

SEP 21, 2021
https://www.straitstimes.com/busine...sale-of-singa-bonds-to-finance-infrastructure

EMA to issue bonds as part of $2b programme to finance green energy transition​

JAN 15, 2023
https://www.straitstimes.com/singap...-programme-to-finance-green-energy-transition

---
By the way, whenever you see the green/renewable/sustainable/eco-friendly stuff, recognize it as a scam, nothing more.

 

[tobelightlight]

Now you know why this happened. They can sugarcoat it with flowery language however they want.

MAS to raise $2.6 billion in first-ever sale of Singa bonds to finance infrastructure​

SEP 21, 2021
https://www.straitstimes.com/busine...sale-of-singa-bonds-to-finance-infrastructure

EMA to issue bonds as part of $2b programme to finance green energy transition​

JAN 15, 2023
https://www.straitstimes.com/singap...-programme-to-finance-green-energy-transition

---
By the way, whenever you see the green/renewable/sustainable/eco-friendly stuff, recognize it as a scam, nothing more.

oh no, the reserve is gone?

 

[batman1]

Majority 61% are very happy.Nothing to complain.

 

[GOD IS MY DOG]

National Debt
Min of Finance said our national debt is US$1.7 trillion
https://www.mof.gov.sg/news-publica...re-have-an-external-debt-of-US1-766-trillion-
Most of these debts were issued long ago, so most of them cost less than 3%pa.

Assuming (a low gauge) that we pay on average 3%pa a year when all these debts renew at new interest rates in the years ahead, we have to pay about US$50billion of annual interests.

Divide by population of 5million, it is about US$10000 per Singaporean (including every child) in interests-payable every year.
US$10000 per year, is about S$1000 per month per Singaporean.

this 1.7 Trillion figure include corporate and individual debt..............govt debt is probably around......USD500Billion

 

[Ng Cheh Hwang]

MAS posts record net loss of S$30.8 billion amid rise in interests
https://www.channelnewsasia.com/sin...al-report-sing-dollar-higher-interest-3606691

 

[k1976]

U are right, We are in BeST Hands

 

[k1976]

Majority 61% are very happy.Nothing to complain.

Yeah.... All ish not Lost

 

[Ng Cheh Hwang]

On a per-person basis, the citizens of the small yet mighty Asian nation of Singapore shoulder the heaviest sovereign debt globally. Every individual in this bustling city-state is apportioned a whopping US$117,400 share of their national debt.

In U.S., each citizen carries an imposing US$93,000 debt burden. Japan ranks third with US$88,400 debt per citizen. Canada, in fourth place, reports a figure of US$58,900, and Belgium, in fifth, shows US$52,600.

This startling revelation comes following a comprehensive examination of United Nations’ data,

https://www.cryptopolitan.com/debt-rankings-show-u-s-and-singapore-on-top/

 

[mojito]

Billionaires like elong mas have the most debts. Have they gone broke all ready?