Minister of Finance Dr Nigel Clarke says the public will receive more details about the securitisation of Government receivables, “when the time is right”. 

Clarke made the announcement on Taking Stock with Kalilah Reynolds, on March 26 after the close of the National Budget Debates.

During his opening presentation, the Minister announced that the Government would sell some $45 billion worth of Government receivables to help fund its $1.3 trillion 2024/2025 budget.

Receivables are funds owed to the government that have not been collected. Securitising receivables refers to bundling those uncollected funds, selling them to the market and receiving the money upfront.

The Finance Minister did not provide any additional information about the process, such as what the receivables are that will be sold, any potential buyers and whether the money would be received at once or over time.

“There is nothing abnormal about that. The budget consists of $200 billion of loan financing we are not required nor do we specify exactly how we’re going to do that because that would be Market sensitive information,” Clarke said.

“We don’t provide particulars on that because to provide particulars on the debt that will be issuing, would influence what is possible and we don’t want to do that that’s not in the public’s interest,” he added.

The Minister said that the Government intends to be transparent about the transaction and will share details “when the time is right”.

According to the Minister, the Government has conducted market tests and has viable options when it comes to selling the receivables. He said he expects the deal to be closed soon and at that time all the details surrounding the transaction will be revealed.