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May 24, 2022

Romania could borrow EUR 1 bln from international markets

The Public Finance Ministry (MFP) wants to issue on international markets state bonds worth EUR 1 bln in the following period, maybe even in September, MFP Secretary of State Enache Jiru stated, being quoted by Bloomberg.
Poland became on Wednesday the first emerging country to return on the Eurobonds market after a five-week pause, and Romania plans to launch a similar offer this month, Bloomberg informs, being quoted by Agerpres.
Finance Ministry Secretary of State Enache Jiru stated on Wednesday that Romania could tap into international markets too, for the first time this year, through an issuance of EUR 1 bln that may take place this very month.
48 of the 54 economists interviewed by Bloomberg News at the end of last month believe that in September the US Federal Reserve will resort to the first monetary policy interest hike since 2006.
In early June, Diana Popescu, Deputy General Director of the State Treasury, announced that Romania could launch two state bonds tenders on foreign markets in the autumn of this year, depending on the international markets’ backdrop.
Romania borrowed on foreign markets four times in 2014, obtaining the equivalent of over USD 5 bln by selling 10- and 30-year state bonds.
Romania has a “Baa3” rating from Moody’s and a “BBB-“ rating from Standard & Poor’s and Fitch.

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