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(1) The Public Debt Management Office shall, not later than the month of December of the preceding financial year, prepare an annual borrowing and recovery plan to meet the aggregate borrowing requirements of Government for each financial year.

(2) The annual borrowing and recovery plan shall be based on the approved Medium-Term Debt Management Strategy and shall include

(a) planned borrowing operations over the year;

(b) borrowing instruments to be used; and

(c) the indicative timing of the borrowings.

(3) The annual borrowing and recovery plan shall be updated at least every six months.

(4) The Minister shall review and approve the annual borrowing and recovery plan and updates to the plan.

(5) The Minister shall publish on the website of the Ministry, the approved annual borrowing and recovery plan and updates to the plan.