SINGAPORE -- Singapore will issue up to 90 billion Singapore dollars ($68 billion) in bonds to finance big infrastructure projects, the government revealed in a budget presentation on Tuesday, in a rare move for the wealthy city-state.
The country is bracing for a record fiscal deficit due to extensive spending to cushion the impact of COVID-19. In the past, it has generally issued government bonds for developing the domestic debt market, though the administration had said it was exploring such options for "long-term" infrastructure.
