Finance Ministry, set to borrow 7bn euros from abroad in 3 years

29 iul 2010 Autor: Razvan Voican

The Finance Ministry is readying to start issuing euro-denominated notes with maturities of up to five years totally worth over 7bn euros on the external market in the next three years, in line with a programme of funding through so-called "euro medium term notes" recently approved by the Government. "In the following period, we'll start raising funding from the external market through euro medium term notes-EMTN. We have the Gvt.'s approval for a programme worth above 7bn euros in the next three years, which will allow for a repeated, virtually constant presence on the external market, under much more flexible conditions than the classical formula of Eurobonds taking a longer and more complex procedure," Bogdan Dragoi, a secretary of state with the Finance Ministry, in charge with the state Treasury, told ZF. He says the new programme is part of the strategy envisaging a balanced budget deficit funding, between the external and internal market. The euro medium term notes are used both by numerous states and companies to flexibly and rapidly secure the funding flows they need.