Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Romania raises EUR 750 ml in tap of 2018 Euro bond issue

Minister of Public Finance Florin Georgescu announced on Tuesday the successful completion of the tap of its euro-denominated 6.5% June 2018-dated bond issue that replenishes the country's forex reserves by EUR 750 million.

'Today we successfully set the size of the euro-bond issue at 750 million euros, which flow to the Treasury of the Ministry of Finance, which is kept as an account of the National Bank, so this money goes to the country's foreign exchange reserve ... for an interest rate of 5.15% per annum,' Minister Georgescu told the annual Meeting of Romanian Diplomats.

He added that with all this borrowing, Romania is just as credible a state as one year ago. He mentioned that the environment in Romania is favorable for attracting foreign investments and that the government has taken steps to encourage the business milieu.

According to Georgescu, foreign investments come to a country that can provide market outlets, which Romania can offer; when they have a stable and attractive economic environment, and, again, this is the case of Romania; when they have predictability and transparency in economic and decision-making processes and Romania fulfills this last requirement as well.

Of late, underscored the Finance Minister, the crisis that hit developed countries has deterred foreign investments from Central and Eastern Europe, but through the economic policies it promotes, the government in Bucharest envisages the encouragement of investments.

Also, the head of the Finance Ministry said that a fundamental prerequisite for Romania's attaining its economic development potential is the continuation of the agreements with the IMF, the European Commission and the World Bank.

More