Romanian Government Attempts to Revive the Stock Market With Bond Issues

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Romanian Government Attempts to Revive the Stock Market With Bond Issues

State bonds worth a total €2.2 billion are to be listed on the Bucharest Stock Exchange (BVB) as of next week, in the first official intervention on the stock market, to attempt to stop its decline, BusinessStandard.ro reported.

This year, listed companies lost billions of euros in total market value and the few local investors still active on BVB are considering withdrawal.

Furthermore, the Finance and Economy Ministry is considering listing mortgage bonds.

Ministry representatives said the state bond issue was pushed forward to provide stability on the local stock market.

“The state bond market, which operates according to its own rules, can become a stabilizing factor, especially at this time fraught with turbulence. We rushed the time of listing, to ensure that with the aid of our authority, we can call for confidence on the [Bucharest] Stock Exchange,” Finance and Economy Minister Varujan Vosganian said.

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