Romania's Finance Ministry plans to collect 7.5bn lei in June through six bidsPublish date: 28-05-2009
Romania's Public Finance Ministry (MFP) is set to collect 7.5 billion lei through six bids in June by selling treasury certificates and benchmark bonds maturing in three, five years, according to the institution's website.
The first bid will be held on June 1 when MFP will issue treasury certificates worth 2 billion lei maturing in six months. The same week it issues benchmark bonds maturing in five years and worth 750 million lei.
Then, on June 9, MFP plans to draw 2 billion lei after selling 30-day treasury certificates and a week later it will sell securities maturing in six months worth 1 billion lei.
Another bid will take place on June 18 when the ministry wants to place 750 million lei in three-year bonds and the last one is scheduled on the 22nd when 1 billion lei worth of state securities maturing in one year could be sold.
In the first five months this year MFP collected 32.8 billion lei to finance and refinance the public debt.
Romania's Cabinet has a 4.6 percent budget deficit target this year, tantamount to 24.3 billion lei of the gross domestic product, following the agreement inked with the International Monetary Fund over a 20 billion euro external loan. The IMF fixed quarterly targets for Romania of 14.5 billion lei the most at the end of the second quarter and 18.6 billion lei for the third quarter.
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