Romania Plans To Sell RON7B State Treasuries In April

The ministry scheduled four treasury bills issues worth in total RON6.5 billion and two bond issuances worth RON250 million each.

The first treasury bills issuance will be launched on April 6, when the finance ministry wants to sell RON2 billion worth of three-month T-bills.

On April 13, 21 and 27, the ministry planned 6-month, 1-month and 12-month T-bills auctions, in which it plans to attract RON2 billion, RON1.5 billion and RON1 billion, respectively.

On April 2 and 16, the finance ministry scheduled two auctions in which it plans to sell five-year and three-year bonds, respectively, worth RON250 million each.

In the first three months of 2009, the Finance Ministry has sold more than RON20 billion state treasuries, compared with RON12.5 billion sold in the whole of 2008.

The Finance Minister Gheorghe Pogea said recently that Romania would borrow less money from the local market in the second half of the year, after it would draw the first money from the external loan.

Romania agreed last week with the International Monetary Fund, the E.U. and other international lenders a EUR19.95 billion financial package to help it cushion the effects of the financial crisis.