Bulgaria goes for Euro bond sale to repay debt
It was not immediately clear how much the bonds offered on international markets will be worth, finance minister Simeon Djankov said
Bulgaria is already preparing the sale of bonds on
international markets to finance BGN 1.8 B of global bonds that mature in early
2013, the finance minister announced the
morning broadcast of the state BNT TV channel.
"The best way to repay the debt is a mix of the
privatization of state-owned assets, issuing short-term state securities and
mid-term euro bonds", minister
Simeon Djankov told.
It was not immediately clear how much the bonds offered on
international markets will be worth.
Djankov recently came under fire for proposing changes to
the governance of the Silver (Retirement) Fund that would enable a more active
management of the collected funds and the investment of up to 70% of it in
The Fund is part of the country's fiscal reserve.
"I will heed the critics and will propose that just 30% of the fund assets are put into state securities by the end of 2012", Djankov said on Thursday.