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Wednesday, May 29, 2024
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NewsMontenegro, Sold government bonds for EUR 20.5 million

Montenegro, Sold government bonds for EUR 20.5 million

At this year’s first auction with a maturity of 182 days, government bills were sold for EUR 20.5 million, at an average rate of 3.18 percent.

The total nominal value of the issue of government bills was EUR 30 million, while the bids submitted were worth EUR 43.5 million. The amount of accepted offers was EUR 20.5 million.

The maturity date of government bills is May 24 of the following year.

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Government bills are short-term securities, by issuing which the state borrows for that amount, and those interested in the auction give their bids with the percentage of yield, i.e. interest for that amount and the period from issuance to collection.

The Government previously announced that this year it will borrow for the missing funds and reserve for the next year from domestic banks and by issuing short-term government bills.

The Central Bank (CBCG) is the agent of the state for issuing notes, that is, it performs an intermediary technical role.

Government bills were last issued in October 2020, when bills worth EUR 15 million were sold at a discount rate of 0.9 percent, local media reports.

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