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Romania's Finance Ministry collects lei 1.26bn for one month, at average yield of 10.21% per yearUpdated: 10-06-2009 |
Romania's Public Finance Ministry (MFP) sold today treasury certificates with discount maturing in one month for a total 1.26 billion lei (299.22 million euros) at an average annual yield of 10.21 percent, down from the one accepted at the previous bid, the central lender announced.
MFP collected 37 percent less than the 2 billion lei announced initially. The maximum accepted yield stood at 10.75 percent per year.
Banks filed requests worth almost 3.47 billion lei.
At a similar bid on May 18, MFP sold state securities maturing in 30 days for 520.53 million lei, up 4 percent on the initially announced amount, at an average annual yield of 10.51 percent.
The ministry collected a total 32.95 billion lei in the first five months of 2009 from issues of state securities to finance and refinance the public debt. MFP plans to issue state securities worth 7.5 billion lei in June and already collected 4.16 billion lei from the first three bids.
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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