In January-November Moldova’s internal state debt increased by MDL 14.47 million (3 times) to MDL 21 billion 695.7 million.
The increase was caused by the rise in state securities to be placed on the primary market by MDL 1 billion 129 million and the issue of state securities worth MDL 13 billion 341.2 million for the Finance Ministry to meet the State’s liabilities on time credits given to Banca de Economii, Banca Sociala and Unibank, the Finance Ministry explains.
As of the end of November, the bulk of Moldova’s internal state debt – 61.5% of its total amount – is attributable to the state securities issued at an amount of MDL 13 billion 341.2 million to meet the State’s liabilities dated November 17, 2014 and April 1, 2016 on time credits given to the three insolvent banks. The indebtedness on state securities placed on the primary market amounted to MDL 6 billion 291.1 million (29%). The debt on the converted state securities was equal to MDL 2 billion 063.4 million or 9.5% of the total amount.
Over 11 months of 2016 the average weighted interest rate on state securities sold at auctions amounted to 16.59%, being 16.88% on the 91-day T-bills, 16.4% on the 182 T-bills, 16.63% on the 364 T-bills, 13.95% on the two-year public bonds and 8.2% on the 3-year public bonds, down by 2.51% YoY.
In 2015 the internal state debt of Moldova grew by MDL 150 million (+2.1%) to MDL 7 billion 225.4 million. To serve it the ministry spent MDL 793.6 million. (InfoMarket/Business World Magazine)
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