Montenegro likely to place EUR 150-200mn eurobond issue by year-end.

By bne IntelliNews February 17, 2010
The country is likely to place a eurobond issue by the end of the year, the spokesperson of the finance ministry Gordana Jovanovic announced. She noted that the ministry is currently looking for an advisor to consult the countrys entry on the European capital market. The size of the issue will be at about EUR 150-200mn, Jovanovic revealed. As recalled, deputy PM and finance minister Igor Luksic indicated that Montenegro might place a eurobond issue last October. It seems that authorities gave up their intentions to conclude a stand-by arrangement with the IMF and are considering other ways of ensuring fresh resources for the economy. We note that public finances deteriorated in the course of last year, because of the economic downturn, while the outlook for the current year are not very optimistic.

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