After failing with the first tender, the Ministry of Finances has opened once again the race for the legal studio which will help the government with a 600 million EUR debt from international markets, through a new Eurobond.
Based on the documents published in the public procurement agency, the studio will advise the Ministry of Finances for three months, until the Eurobond is opened.
According to the preliminary program, the auction for the new Eurobond will be developed within the first half of the year, around April and May.
This is the fourth time that Albania comes out in Europe’s financial markets to receive trade commercial debts.
The last Eurobond was issued in October 2018. The government received 500 million EUR of debt through it, with an interest rate of 3.5%.
The Ministry of Finances hopes that the next debt will be taken with an even better cost, due to the favorable market situation.
The 600 million euros that the government wants to obtain from international markets is not all new debt.
A portion of it will be used to replace debts owed over the past years, which need to be repaid.
The government has planned to borrow 39 billion ALL in the next year, or 320 million Euros as new debt, taking the fiscal deficit at 2.2% of the GDP.
The project for this year was initially planned at 29 billion ALL, but the November 26th earthquake forced the government to increase borrowing and fund the reconstruction program.