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Published: 28 august 2013 11:48

Lithuania won't need to borrow in foreign markets any time soon

Dvejų eurų monetos
„Reuters“/„Scanpix“ nuotr. / Money

Lithuania has borrowed less than half of the funds it planned to raise in foreign markets this year, but the country is not planning any new international offerings, at least for now, as a rather high demand for litas-denominated government securities allows meeting its borrowing needs domestically, the business daily Verslo Žinios reports.

"There should be no major deviation from the earlier announced total annual borrowing plan of 7.6 billion litas (EUR 2.2 billion). The volume of borrowing in the domestic market in the first half of 2013 was higher than planned, so the annual need for borrowing in foreign capital markets has decreased accordingly," it quoted Rasa Kavolytė, deputy director of the State Treasury Department at the Finance Ministry, as saying.

It was planned last year that Lithuania would need to borrow 7.6 billion litas in 2013, of which 3.1 billion litas was to be raised in foreign markets. The government raised part of the funds in the spring through a 400-million-euro bond issue.

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