"It is only now a question of timing, when it is right and when we need the money, we will do it," said Treasury Director-General Lungisa Fuzile.
"We expect that we will probably do it before the end of this financial year, it may even be before the end of this year."
Outlining the country's debt and asset management plan over the next three years, the Treasury said it would stop publishing a formal calendar with switch auction dates, and no longer publish preset targets, as the market was taking advantage of that information weeks and months before the auctions.
"That information has been used by the market to drive prices in a particular direction, outside of where actual pricing should be, so there's cost distortion, and it also creates a lot of volatility in the market," said Monale Ratsoma, the liability director.
The weak rand, which fell through the 11/$ level last week, will see debt-service costs rise.
The amount offered at weekly Treasury bill auctions will increase by R445m as the government aims to reduce pressure on the three-month bill by increasing issuance amounts of the other maturities. - Reuters
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