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But Eurobond targets could be downsized given robust domestic demand, he told Reuters.
The ministry raised the maximum amount the ministry could borrow through its medium term note programme (MTN), a non-binding foreign debt issuance plan that allows debt managers to tap markets through standardised documents.
The ministry sold foreign issues worth 55.6 billion euros during 2012-2023, nearly tapping out the MTN’s current top value of 56 billion euros. The ministry has raised it by 6 billion euros, adding foreign issues worth 4.6 billion euros will mature this year and in 2024.
“The MTN programme is a ceiling, it gives us flexibility to issue, but we don’t have to fully execute,” Nanu said. “It is possible we will cut Eurobond issuance considering the way domestic funding goes.”
($1 = 0.9133 euros)
