Prima pagină » English » Romania Fin Ministry Eyes More Debt Sales On Foreign Markets

Romania Fin Ministry Eyes More Debt Sales On Foreign Markets

Romania’s Finance Ministry wants to extend to three years the period during which the ministry can sell debt on foreign markets, so that the eastern European country may borrow money “at any given moment,” acting Minister Sebastian Vladescu said Friday.
Romania Fin Ministry Eyes More Debt Sales On Foreign Markets
25 iun. 2010, 13:18, English

Vladescu said Romania’s presence on international markets is „a must”, but the ministry will decide on a possible new auction based on several market conditions.

He said the ministry had to cut back on the financing from local banks, because the yield requested is too high.

„It’s a management issue regarding the cost at which the banks want to extend crediting. For now, we believe that the cost was sometimes too high,” Vladescu said.

The ministry rejected all bids in two out of five treasury auctions in June, citing high yields. Total debt sales stood at around 960 million lei (EUR1=RON4.2808) in June, well below the RON4.6 billion initially planned.