A combination of aggressive fiscal expansion, persistent inflation risks, and tactical liquidity management has triggered a massive surge in government debt issuance, according to the latest Fixed Income Thematic Report by Meristem Securities Limited. The report, issued on Thursday, highlights a deliberate strategy by fiscal authorities to frontload borrowing early in the year to mitigate the impact of macroeconomic uncertainties. The primary catalyst behind the accelerated borrowing is a substantial revision to the national fiscal plan. [...]