Public Finance Management Act: Rate on interest on government loans

27th August 2019

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.