Debt Management Annual Review released (2.2.2012)

Debt Management Annual Review released (2.2.2012)

The Debt Management Annual Review of the Republic of Finland has been published.

The review focuses on central government debt management in 2011 with a glimpse into 2012, providing an overview of the funding activities, cash management and the state of the Finnish economy. In addition, the review takes a look at the Finnish banking sector and employment pension funds.

“The year 2011 has been a hair-raising one for the financial markets,” writes Director of Finance Teppo Koivisto in the review. “The deepening of the European debt crisis and substantial increase in market volatility have highlighted the challenges of sovereign debt management.”

Despite the uncertainty prevailing in the financial markets, Finnish government bond issues and auctions drew healthy demand from investors in 2011. The Republic of Finland issued two new euro-denominated bonds and one USD-denominated bond and organised four tap auctions. The gross on-budget borrowing amounted to EUR 23.4 billion, of which EUR 16.7 billion was allocated to long-term issuance.

For 2012, the estimated gross borrowing requirement is EUR 21 billion. In line with last year, Finland is planning to issue two new euro-denominated benchmark bonds and arrange approximately four tap auctions, complementing the long-term funding with MTN issues.

The complete review is available on the Treasury Finland website under Publications or directly through the link below.

Debt Management Annual Review 2011 >>

Published 2012-02-02 at  12:33 , updated 2012-02-02 at  12:31
Suomeksi   På svenska   In English

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