The Finance Ministry is readying to start issuingeuro-denominated notes with maturities of up to five years totallyworth over 7bn euros on the external market in the next threeyears, in line with a programme of funding through so-called "euromedium term notes" recently approved by the Government. "In thefollowing period, we'll start raising funding from the externalmarket through euro medium term notes-EMTN. We have the Gvt.'sapproval for a programme worth above 7bn euros in the next threeyears, which will allow for a repeated, virtually constant presenceon the external market, under much more flexible conditions thanthe classical formula of Eurobonds taking a longer and more complexprocedure," Bogdan Dragoi, a secretary of state with the FinanceMinistry, in charge with the state Treasury, told ZF. He says thenew programme is part of the strategy envisaging a balanced budgetdeficit funding, between the external and internal market. The euromedium term notes are used both by numerous states and companies toflexibly and rapidly secure the funding flows they need.
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