17 May 2004 23:36
Moskomzaim to issue Eurobonds in Q3
He said that the Moscow budget currency has very little money,
because Moscow has not placed bonds on the domestic market since
MOSCOW. May 17 (Interfax) - The Moscow state borrowing committee Moskomzaim plans to restart placing bonds on the
domestic debt market in the third quarter, as a the municipal budget is currently experiencing a shortage of funds,
committee Chairman Sergei Pakhomov said at a Monday press conference.
February 2004.
"There is no need to attract 7 billion - 8 billion rubles from the
market when the budget has excess funds," he said. He said that the
"We planned to restart placements at the end of May - start of June, but large balances in budget accounts
forced us to postpone this until the third quarter," Pakhomov said.
Moscow government does not plan to revise its borrowing program for this year.
Pakhomov also confirmed the Moscow government's plans to borrow on the foreign market in September-October this
year. "Preparation work is currently being completed, so nothing has changed in our plans, maybe there will be a
slight postponement until the fall," he said.
Pakhomov said that the domestic debt market in Russia is a little unstable, and as a result the market should not be
forced, but given a chance to calm down. [RU EUROPE ASIA EEU EMRG DBT EUB] rd <>
[Interfax] |
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