Pre-Trading Thoughts

The government is in talks with the IMF to raise its USD3 billion loan program to more than USD5 billion. The government expects to borrow at least USD1.5 billion between now and the end of the year, Minister of Finance said. This includes the planned USD500 million issuances of CNY-denominated bonds in October and JPY-denominated bonds in November. The IMF expects our budget deficit to widen significantly during FY 2023-24 to reach 10.7% of GDP. Bloomberg reported Friday that an ...