Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 8 : Loans, Guarantees and other Commitments

The Minister may borrow money in terms of section 66(2)(a) for the following purposes only:

(a)	approved by the National Assembly by special resolution.

(b)	To finance national budget deficits;

(c)	to refinance maturing debt or a loan paid before the redemption date;

(d)	to obtain foreign currency;

(e)	to maintain credit balances on a bank account of the National Revenue Fund;

(f)	to regulate internal monetary conditions should the necessity arise; or

(g)	any other purpose