Cap. 575 чл. 8Borrowing purposes. 6 [CAP.

The Minister may borrow funds both in Malta and outside Malta pursuant to article 18, for the following purposes only:

(a) to finance the deficit;

(b) to maintain an adequate level of liquidity in the General Government Bank Account in accordance with article 55;

(c) to form sinking funds against loans of the Republic of Malta in accordance with article 58 and to acquire securities already issued and securities issued under this Act in accordance with article 58;

(d) to finance lending operations by the Government which will be subject to specific acts authorizing such lending in accordance with article 53;

(e) to raise a sum of money not exceeding 2% of the maximum amount that can be borrowed for that year, to finance on-lending operations of small amounts for the benefit of the Maltese economy and society;

(f) to fulfil the obligations generating from Government guarantees called;

(g) to refinance prepayments of central Government debt;

(h) to pre-finance future borrowing requirements;

(i) to directly protect the economy of Malta;

(j) to handle financial or natural or environmental catastrophes or for any other national emergency as approved by Parliament;

(k) to refinance outstanding loans which are due for redemption during the relevant year; AND MANAGEMENT OF PUBLIC DEBT 575.

(l) to meet monetary liquidity requirements connected with cash flows as part of cash management;

(m) to effect portfolio changes as and when required in line with Government's debt management policies; and

(n) to finance any other expenditure as the Minister may authorise from time to time.