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[1] I used to assume that nations issue debt (treasury bills and bonds) to raise funds in order to fund projects and pay off their foreign debt. To my astonishment, I learnt that why Singapore Government actually started to issue bonds.
[2] Unlike most countries, Singaporean Government does not need to finance its expenses through government bonds as it usually enjoys budget surpluses. The Government in 2018 distributed ("hungbao") of upto S$300 to its citizens to celebrate its S$9.6 billion surplus in FY1718.
[3] The Government wanted to provide a liquid alternative which had little or no default risk for investors. They wanted to develop SG into a financial hub which needed an international debt market to support its equity market.
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It's time: #Godzilla v. #Destoroyah! Scientist 2 meddling kids: First u warn me to not make an oxygen destroyer. Now U want me to make one! #kidsthesedays @Elreynetwork #kaiju
I said I could make one. I didn't say it would be easy. #Godzilla v. #Destoroyah @Elreynetwork #kaiju
Ooh-this movie ha=is #graphic sensitive viewers' warning! @Elreynetwork on the scourge of magamonster violence. #Killitwithfire #Kaiju #cadmiummissles #Godzilla
Read 42 tweets

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