BUSINESS

Upper ceiling for bonds on external market, doubled




The maximum ceiling for the issuance of Medium Term Notes on foreign markets, approved in 2010 for a period of three years, has been almost doubled, from EUR 8 bln to EUR 15 bln, and expanded in order to cover the next three years too, namely during 2014-2016. The hiking of the borrowing ceiling and the expansion of the program were decided during the government’s meeting on Wednesday. The government points out that the gross financing needs through the issuance of state bonds on international capital markets for 2014-2016 will thus be covered.

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