Ialomitianu Says Good Period To Tap Markets For Financing

05.24.2011 By Florentina Dragu

Romanian Finance Minister Gheorghe Ialomitianu Tuesday insisted this would be a good moment to attract funds on international markets, saying that the recent external turmoil would not affect yielding.

"This is a favorable moment for Romania, as foreign investor confidence in the economy is rather strong… Therefore, Romania has credibility on financial markets," Ialomitianu said.

In 2010, the finance ministry announced a three-year MTNs program worth up to EUR7 billion, but hasn't borrowed any funds so far. The ministry plans to launch a first international bonds issue in the program before July, followed by another in the second half of 2011.

No indicative amounts were announced yet.

The latest international debt sale took place in March 2010, when the ministry attracted EUR1 billion in a five-year Eurobond, at an annual yield of 5.17%.