Worrying Development: Familee Up Debt Ceiling to $320B!

[DOM the Clown]

So bad of you.

Bro AIR39!
How are you? You bluff the rest of the sammyboys here but you can't bluff me!
Welcome back!

Cheers!
DOM

 

[bryanlim1972]

One word .

Government KELONG .

GICs scholars and officials should not be given mercy and second chance .




Neither should government baby sit and bailout those idiots !

320bn is slightly less than 1.5 times our 2008 GDP.

government is gearing up to run budget deficit, preparing to pump prime the economy if things don't pick up internationally.

seems like they're taking power away from the MAS and vesting it with the cabinet, ie PM.

 

[longbow]

Aiyah just allows for better refi of outstanding debt. Wonder why we need to borrow so much $$

And observe the misleading 154th headline to mask the important issue.


<TABLE border=0 cellSpacing=0 cellPadding=0 width=593><TBODY><TR vAlign=top><TD><TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR vAlign=top><TD>Singapore
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>January 11, 2010, 5.08 pm (Singapore time)

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore seeks early redemption of SGS

By ANGELA TAN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right></TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR><TR class=font10><TD colSpan=2><!-- AddThis Button BEGIN --><SCRIPT type=text/javascript> var addthis_config = { services_compact: 'facebook, twitter, favorites, myspace, google, www.businesstimes.com.sg, live, delicious, stumbleupon, more', services_exclude: 'email,print', services_custom: { name: "Email", url: 'http://www.businesstimes.com.sg/sendmail/1,4561,367490,00.html?', icon: "http://www.businesstimes.com.sg/mnt/static/image/images/story_email.gif"}, data_use_flash: false } </SCRIPT><SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>SINGAPORE - Singapore is seeking to amend the law to allow the government to buy back to the Singapore Government Securities (SGS) before maturity at market price, Second Finance Minister Lim Hwee Hua told Parliament on Monday.

Mrs Lim said the Monetary Authority of Singapore (MAS) currently buy back its debt and holds them until they mature.
'As premature redemption of these securities currently is not allowed, the government continues to pay interest on these securities to the MAS,' Mrs Lim said.
She added that the practice of early redemption is common among central banks and will provide more flexibility in the management of SGS.
Singapore's parliament in November approved the Ministry of Finance's proposal to increase the limit for government bond borrowing by $70 billion (US$50 billion) to as much as $320 billion.
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