Thursday, January 29, 2009

Romania plans to issue 5.4 bln lei debt in Feb

Wed, Jan 28 2009, 13:33 GMT

BUCHAREST, Jan 28 (Reuters) - Romania plans to sell 5.4 billion lei ($1.69 billion) in treasuries in February, compared with the 6.5 billion lei it sold in January, finance ministry data showed on Wednesday.

It sold 12.5 billion lei in 2008, mostly in short-term paper as the global cash squeeze pushed yields upwards.

The month-old centre-left government needs to plug a big deficit for 2008 of over 5 percent of gross domestic product triggered by high spending by the former cabinet.

In February, the ministry plans to issue one-, three-, six-month and one-year treasury bills worth 5 billion lei and 400 million lei in three- and five-year bonds.

It has yet to announce treasury issuance plans for the whole of 2009, pending the approval of a budget plan.

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