Bonds

U.S. expands list of countries whose citizens must pay up to $15,000 bonds to apply for visas

The Trump administration has added seven countries, including five in Africa, to the list of nations whose passport holders are required to post bonds of up to $15,000 to apply to enter the United States.

Thirteen countries, all but two of them in Africa, are now on the list, which makes the process of obtaining a U.S. visa unaffordable for many.

The State Department last week quietly added Bhutan, Botswana, the Central African Republic, Guinea, Guinea-Bissau, Namibia and Turkmenistan to the list. Those designations took effect on Jan. 1, according to a notice posted on the travel.state.gov website.

It’s the latest effort by the Trump administration to tighten requirements for entry to the U.S., including requiring citizens from all countries that require visas to sit for in-person interviews and disclose years of social media histories as well as detailed accounts of their and their families’ previous travel and living arrangements.

U.S. officials have defended the bonds, which can range from $5,000 up to $15,000, maintaining they are effective in ensuring that citizens of targeted countries do not overstay their visas.

Payment of the bond does not guarantee a visa will be granted, but the amount will be refunded if the visa is denied or when a visa holder demonstrates they have complied with the terms of visa.

The new countries covered by the requirement join Mauritania, Sao Tome and Principe, Tanzania, Gambia, Malawi and Zambia, which were all placed on the list in August and October of last year.

Lee writes for the Associated Press.

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Hong Kong Issues One Of The Biggest Digital Green Bonds

In mid-November, the Hong Kong government priced an approximately HK$10 billion ($1.3 billion) tokenized green bond offering. It is the first global government issuance to permit settlement via digital fiat currencies and one of the largest digital bonds issued globally.

The Hong Kong Monetary Authority, the territory’s de facto central bank and bank regulator, issued the bond in four tranches across several currencies. The Hong Kong dollar and yuan tranches can be settled using e-HKD and e-CNY, digital versions of those currencies based on blockchain technology, alongside traditional settlement methods.

Sovereign tokenized bonds indicate financial centers no longer compete on just cost or liquidity, “they are now competing on infrastructure,” says Dor Eligula, co-founder of BridgeWise. “Hong Kong’s move accelerates a shift toward markets where data is auditable in real-time, and settlement becomes a feature rather than a friction. That ultimately reshapes the global hierarchy of capital markets.”

“Riding on our established strengths in financial services, this issuance will further consolidate Hong Kong’s status as a leading green and sustainable finance hub,” said Christopher Hui Ching-yu, secretary for financial services and the treasury, in the November 11 announcement.

Specifically, investors purchasing the HK$2.5 billion, two-year tranche would receive 2.5% in annual interest for two years. The 2.5 billion yuan ($351 million), five-year tranche yielding 1.9% annually, with the $300 million, three-year tranche returning 3.6%, and the €300 million ($348 million) four-year tranche paying 2.5% annually.

The offering drew total demand of more than HK$130 billion, with subscriptions from a range of international institutional investors, including multinational banks, investment banks, insurers, and asset management firms, according to an HKMA prepared statement.

The current bond offering will finance and refinance projects under the government’s Green Bond Framework. The government issued two batches of tokenized green bonds—an HK$800 million batch in February 2023 and another worth around HK$6 billion in February 2024.

The latest issuance extends the tenor up to five years. Compared with previous issuances, the number of investors has also “expanded markedly,” according to the HKMA.

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