Romania's Finance Ministry sells 6-month treasury certificates for 2.5bn lei in need of money

Publish date: 02-03-2009
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Romania's Public Finance Ministry (MFP) sold six-month treasury certificates of 2.518 billion lei with an average yield of 11.48 percent per year, the central lender BNR announced today.

The maximum yield accepted by MFP was of 11.50 per year. The offers filed by banks totaled 3.679 billion lei, 46.1 percent above the sum drawn by the ministry.

At the previous bid on February 2, MFP sold treasury certificates maturing in six months of 1.514 billion lei at an average annual yield of 11.46 percent.

The ministry aims to obtain in March 7.5 billion lei to finance and refinance the public debt after collecting some 13 billion lei in the first two months of the year.

MFP's need for money stems from the widening of the budget deficit in past months of 2008, to 5.21 percent of the gross domestic product by European standards.


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