we did spend more than GDP for last year, or was it the year before. This shows they did not take into account any reserved which the country may have.
Funny, as far as I know, Singapore government expenditure is not funded using debt.
What debt are they talking about?
http://www.sgs.gov.sg/pub_guide/faqs/pub...ors.html#1.
Why Does The Singapore Government Issue SGS?
Singapore Government Securities (SGS) were initially issued to meet banks' needs for a risk-free asset in their liquid asset portfolios. Following efforts to enhance the efficiency and liquidity of the SGS market by MAS in 1998 as part of its strategy to develop Singapore as an international debt hub, the market has since grown significantly, making it one of the fastest developing bond markets in Asia. Currently, the SGS are issued primarily to:
build a liquid SGS market to provide a robust government yield curve for the pricing of private debt securities;
foster the growth of an active secondary market, both for cash transactions and derivatives, to enable efficient risk management; and
encourage issuers and investors, both domestic and international, to participate in the Singapore bond market.
Unlike many other countries, the Singapore Government does not need to finance its expenditures through the issuance of government bonds as it operates a balanced budget policy and often enjoys budget surpluses. Proceeds from SGS issuance are instead paid into a Government Securities Fund, from which any interest and principal repayments on the SGS are withdrawn. A document summarising the details of the Singapore Government's borrowing portfolio and its unique nature can also be accessed here.
http://app.mof.gov.sg/data/cmsresource/F...erview.pdf
In summary singapore borrows because everyone else does it :p they can buy back all the bonds issued anytime? Looks like they are the real, "risk free" asset
I wonder why USA is not on the top 15 list?
The americans are not on the top 15 list because they are bankrupt!!
We on other hand are hocked to the eyeballs in debt but still redeemable. The americans are irredeemable
reserves?
what reserves if you know our true reserves pls tell
