Romania’s Finance Ministry has started procedures for a new bond issuance for the population through the Fidelis program, which will kick off in June or July, said Stefan Nanu, general director of the State Treasury.

Moreover, the issuance of treasury certificates for the population will resume this fall, Nanu added. The certificates will be sold directly to individuals through the treasury network.

Last year, the Finance Ministry announced a bond issuance for the population of RON 100 million (EUR 22 million), but the demand exceeded RON 730 million (EUR 160.3 million), Nanu said. More than 14,000 Romanians bought government bonds in 2016.

The bonds for the population had a nominal value of RON 100 (EUR 22.2) and paid a yearly interest rate of 2.15%. They were sold via the Bucharest Stock Exchange.

The titles are due in 2018 when Romania celebrates 100 years since the Great Union.

editor@romania-insider.com