“We will increase the efficiency of public debt management by implementing a series of innovative policies, including issuing liquid benchmark bonds, refinancing state treasuries in euros, as well as financial derivatives,” Voinea told an international financing conference in Bucharest.
Voinea didn’t say when the new strategy is supposed to be enforced, but mentioned the relevant laws will have to be amended to accommodate the measures.
The government official said Romania’s borrowing needs have declined by 10 billion lei (EUR2.21 billion) in 2014 from a year earlier, thanks to the lower budget deficit on one hand and to the finance ministry’s policy to issue bonds with longer maturities on the other.
The financing requirements are expected to drop by another RON14 billion in 2015.
“The average maturity rose to 4.4 years over the past twelve months, from 3.9 years previously,” Voinea said.