SIMILAR ARTICLES

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor’s Office, a position for which he was heard on Thursday, 11… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

Romania – EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Romania loses competition for a seat at UN Security Council. MAE Excuse: Campaign started too late

Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult

Cronicile

Government decides to increase external borrowing ceiling by EUR 4bn. It has consumed program resources for two years

de Adrian N Ionescu , 12.5.2019

The Government’s agenda for Wednesday also includes the draft decision to increase the foreign loans ceiling for 2019 and 2020 by EUR 4 billion, up to 31 billion, given that the previous ceiling has already been reached.

The Ministry of Public Finance (MFP) wants to issue new Eurobonds worth about EUR 8.25 billion, according to the explanatory memorandum.

On the other hand, the state will have to borrow this year about RON 72 billion (EUR 15.18 billion, at the new exchange rate forecasted by CNSP) to pay its debts, according to the calculations made by cursdeguvernare.ro, based on public information.

In its current form, Medium Term Notes (MTN) government bonds framework program regulates the possibility to issue bonds on foreign markets at a maximum amount, at any time, of EUR 27 billion or the equivalent in any currency.

The value of bonds issued and non-reimbursed (in euro and dollars) under the MTN Program is currently about EUR 26.9 billion.

“At present, the amount available for Eurobond issues under the Program is approx. EUR 0.022 billion,” says the explanatory memorandum.

They have consumed the “share” for two years

The document states that “in the context of the implementation of the annual plan for financing the budget deficit and debt refinancing for 2019-2020, the Ministry of Public Finance intends to issue Eurobonds worth approximately EUR 8,25 billion (equivalent) of which EUR 3.00 billion have been issued on April 03, 2019″.

“Consequently, in order to cover the financing needs of foreign markets for the period 2019-2020 and taking into account the amount remained available of EUR 0.022 billion, it is necessary to increase the total amount of the MTN Program by EUR 4 billion.

We mention that Eurobonds of EUR 3.5 billion (EUR 1.5 billion in November 2019 and EUR 2.0 billion in September 2020) will reach maturity between 2019-2020.

Since the MTN program ceiling is cleared at the time of the repayment of some bonds, the calculation for increasing the program ceiling has taken into account that these maturities occur at the end of each year, and the new Eurobonds issues are subject to market conditions, most likely in the first part of the year and the third quarter,” the Government says.

Mergeți în homepage ›

Publicat la data de 12.5.2019

Lăsați un comentariu


NEWS

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor's Office, a position for which he was heard on Thursday, 11… Mai mult

Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult

Romania loses competition for a seat at UN Security Council. MAE Excuse: Campaign started too late

Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult

Business internationalization / eMAG makes a step to entry five new international markets and targets a business of EUR 2 billion

eMAG hopes to get the opinion of the Hungarian Competition Council over the next two months for the acquisition of Extreme Digital, the market leader… Mai mult

"At a distance from books": 85,000 teachers (one third of educational staff) are graduates of distance learning

Approximately 85,000 teachers are graduates of distance learning (ID) programs, Education Minister Ecaterina Andronescu said at a meeting with school inspectors from Caras-Severin County. The… Mai mult

Mugur Isarescu: We should make a film for Viasat History about treasure in Moscow

A book should be written or a movie should be made and sent to Viasat History about a treasure evacuated to Moscow, as it is… Mai mult

Rhythm of commercial vehicle registration increases 3 times faster in Romania than EU average

Today, the European Automobile Manufacturers Association (ACEA) announced the status of commercial vehicle registrations in EU member states + EFTA in April and cumulated after… Mai mult

4.2%, from 3%: BNR has increased inflation forecast for 2019

The National Bank increased the inflation forecast for 2019 by 1.2 percentage points, from 3% to 4.2%. Also, the forecast for 2020 goes up by… Mai mult

Emergency procedure at European Court of Justice for Romania’s question: Are MCV recommendations mandatory?

The Court of Justice of the European Union (CJEU) has decided that Bihor Court’s request to be discussed under the emergency procedure, which is a… Mai mult

Government decides to increase external borrowing ceiling by EUR 4bn. It has consumed program resources for two years

The Government's agenda for Wednesday also includes the draft decision to increase the foreign loans ceiling for 2019 and 2020 by EUR 4 billion, up… Mai mult

Preparations for Summit in Sibiu - European Commission’s recommendations for EU's strategic agenda

On Tuesday, the European Commission presented a series of policy recommendations on how Europe can shape its future within an increasingly uncertain and multipolar world.… Mai mult

Meeting between Prime Minister Viorica Dancila and Chinese Prime Minister Li Keqiang: talks on a possible involvement of Chinese companies in PPP projects in Romania

On Friday, Prime Minister Viorica Dancila had a meeting with Chinese Prime Minister Li Keqiang, during which she stated her interest in involving Chinese companies… Mai mult