Foreign investors returned after the debt – Puls Biznesu

At ul. Kielce praise, too, that in April, managed to rebuild the reserve of the state budget.

– on the level of liquidity in the amount of approx. 57 billion zł they consist of both measures zloty and foreign currency. At the same time they are ready to launch further tranches of loans from international financial institutions and are working on emissions foreign bonds into new market segments. Any foreign issues would be of limited value adapted to the specificities of the market – explains Piotr Nowak, deputy finance minister.

Soon the Ministry of Finance should conduct the first ever bond issue Juan, ie. pandas. Before that happens in May, will focus on the sale of securities in the gold standard. The more that came in demand from foreign investors and still unabated interest in domestic banks that invest in debt tax assets to pay less tax bank.

In March, a portfolio of zloty-denominated Treasury securities to foreign investors increased 3.6 billion zł. It’s better news for the tax authorities, because in January and February, including float away from the Polish market for more than 20 billion zł.

– Foreign investors continued reducing portfolios of bonds maturing in one year horizon about 1.7 billion zł. The portfolio of medium-term bonds (3-7 years) increased while 0.9 billion zł, and the long-term by up to 4.4 billion zł – said Piotr Nowak. In April, the Ministry of Finance bought from non-residents debt for 4.7 billion zł.

– Foreign investors rolled up most of maturing bonds continued to reduce short-term bond portfolios and increasing involvement in bonds and medium-term – explains Deputy Finance Minister .

Next month can be a difficult month for the department when it comes to the sale of treasury securities, because on may 13, Moody’s planned review of our creditworthiness. With the recent signals we send the analysts suggest that the best that can happen to a worsening assessment of Polish rating outlook to negative, in the worst case, it will be lowered. This in turn will not meet with a good reception among investors, as well as January’s cut the rating by Standard & amp; Poor’s, which caused a lot of confusion in the short term for gold and bonds.