Poland to satisfy 2012 borrowing needs by end-October
September 3, 2012
Polish government will have financed its 2012 borrowing needs by end-October and will start pre-financing 2013 borrowing needs via switching auctions, the Finance Ministry's public debt department head Piotr Marczak said on Friday.
The gov’t plans to raise over PLN 15 billion less in Treasury auctions to end-year than it will have to spend on debt redemption and servicing, Marczak said.
September Treasury sales will be moderate, the official added.
"We can once again afford to give up on the sale of both T-bills and the short-end two-year bonds," he said.
The Finance Ministry will offer PLN 2.0-4.0 billion in T-bonds during one T-bond auction on September 19, the Finance Ministry said in a statement earlier on Friday.