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Czech Finance Ministry plans EUR6bn bond to cover 2009 budget gap.

BANKING AND CREDIT NEWS-26 August 2010-Czech Finance Ministry plans EUR6bn bond to cover 2009 budget gap(C)1994-2010 M2 COMMUNICATIONS

26 August 2010 - The Czech Republic's Finance Ministry intends to place CZK148.2bn (USD7.6bn/EUR6bn) in bonds in order to cover the bulk of the country's budget gap in 2009, Financni Noviny wrote on Wednesday citing a draft bill presented for comment last week.

The bonds are likely to mature in up to 50 years.

The Ministry hopes that the bill will get a parliament clearance at first reading.

The 2009 state budget was grounded on estimates of CZK38.1bn deficit, but in the course of the year the figure broadened to CZK192.4bn.

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Publication:M2 Banking & Credit News (BCN)
Date:Aug 26, 2010
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