Spectator on facebook

Spectator on facebook

Finance Ministry plans to sell state debt to public

SLOVAK citizens will be able to buy state debt in 2005, under the Finance Ministry’s plans to issue state bonds worth Sk5-10 billion (€125-250 million) for public purchase.

The bonds will be issued in volumes of Sk10,000 (€248) and Sk50,000 (€1,239), the news agency TASR wrote. They will have fixed coupons and a maturity of five years with yields expected to compare to those of similar securities, around 4.6 - 4.8 percent per year.

The issuing of the bonds will be overseen by a brokerage selected via tender. Since the bonds will be tradable on the Bratislava bourse, owners will be able to sell them at any time.

The Ministry expects that this issue will reduce the cost of state debt by between 0.3 and 0.5 percent per year, according to the recently published budget proposal for public administration for the years 2005 to 2007.

A similar issue of bonds in 1998 had a volume of Sk2 billion (€50 million), and was used in part to refinance debt incurred by highway construction.

Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.


Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).