No more borrowing: NBS

SLOVAKIA will not opt for international borrowing in the next few years, the National Bank of Slovakia(NBS) has said.

The NBS suggested in its first session this year in mid-January that due to positive developments on the domestic bond market, banks in Slovakia would not need international borrowings before 2003.

In that year Slovakia might roll over a maturing issue of foreign currency-denominated government bonds issued in 1998 and therefore may need the help of foreign financial houses.

Slovakia also did not borrow abroad in 2001 thanks to developments on the domestic bond market and increased purchases of crown-denominated state bonds by foreign institutions.

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