Czechs to issue bonds worth CZK 170bn in 2012

PRAGUE: The Czech Finance Ministry plans to issue 170 billion Czech crowns ($8.950 billion) in state bonds in 2012, with 146 billion of that coming from domestic issues, Deputy Finance Minister Jan Gregor said on Wednesday.

Speaking to a parliamentary committee, Gregor said net issuance of treasury bills is planned at 50 billion crowns.

The Czechs plan a gross borrowing need of 226 billion crowns in 2012, including 6 billion in loans from the European Investment Bank.

The Finance Ministry is expected to issue its debt strategy in December. It usually leaves substantial leeway in the overall numbers to maintain flexibility to adapt to market conditions.