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Public Finance Management Act: Rate on interest on government loans

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Public Finance Management Act: Rate on interest on government loans

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It is hereby notified that the Minister of Finance has, in terms of Section 80(1)(a) and (b) of the Public Finance Management Act, 1999 (Act No. 1 of 1999), fixed the Standard Interest Rate applicable, from 1 September 2019 and until further notice, to loans granted by the State out of a Revenue Fund, and for to all other debts which must be paid into a Revenue Fund, at Ten percent (10 %) per annum.

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