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S. Korea completes repayment of W48.7tr worth of Treasury debts for this year

South Korea has completed repayment of a total of 48.7 trillion won ($41.2 billion) worth of Treasury debts sold for this year, the finance ministry said Monday.

By repaying 1.5 trillion won worth of the debt last Thursday, the government bought back all Treasury bills that were sold for this year, the Ministry of Economy and Finance said in a statement. 


Such debts are usually sold to raise money to cover short-term financial shortfalls, and thus are generally sold with a maturity of less than three months.

The ministry said the proceeds from the Treasury sales have been used to speed up front-loading of government spending.

The balance of Treasury bills reached 15.9 trillion won at the end of June this year, the ministry said. (Yonhap)