Romania might issue EUR 6.4bn bonds in 2011 S&P.

By bne IntelliNews April 14, 2011
Romania will issue EUR 6.4bn in medium and long-term bonds this year, up by 64% from 2010, S&P projects in a report on EU public debt, obtained by Mediafax. The figures refer to the central governments debt alone, not including other public issuers or the publicly guaranteed issues. The government would thus return to private financing from the capital markets after it has temporarily relied on funds from the EC and the IMF in 2010, the rating agency explains mentioning that the bond issues was reduced sharply from EUR 6.8bn in 2009 to EUR 3.9bn in 2010. The country reached a two-year financing agreement with the IFIs in the spring of 2009. S&P projects the central governments debt at EUR 35.2bn in end-2011 from EUR 31.2bn in end-2010, EUR 24.3bn in end-2009 and EUR 19.3bn in end-2008. The countrys short-term public debt is particularly high, S&P underlined, noting it holds the highest share among the EU countries - 37.7% of the total public debt as at end-2011. The countries, ranking on second and third position, have much smaller ratios of short-term debt in their public debts, at 18.5% (Holland) and 17% (Portugal).

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