Romania's Finance Ministry collects 567m lei at record average yield of 14.24%

Romania's Public Finance Ministry (MFP) got today 566.89 million lei after selling one-month treasury certificates at a yearly average yield of 14.24 percent, collecting more than half of the initially announced value.

The maximum yield accepted by MFP is of 14.25 percent, similar to the interest for the central bank's Lombard credit granted as financial aid to lenders.

Banks filed offers of 1.4 billion lei, 2.5 times over the sum collected by the ministry.

MFP has in plan to sell this year state securities worth 4 billion lei to finance and refinance the public debt, considering a worrying budget deficit wandering away close to 5 percent of the gross domestic product for 2008. The government's target was 2.3 percent.

This year the ministry will announce each month the state securities issuing.

NewsIn