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Lithuania, which successfully sold its Eurobond issue worth 2 billion U.S. dollars at a 7.625 interest rate at the beginning of February, has "borrowed cheaper than last year," says Prime Minister Andrius Kubilius, reports ELTA.

Lithuania, which successfully sold its Eurobond issue worth 2 billion U.S. dollars at a 7.625 interest rate at the beginning of February, has "borrowed cheaper than last year," says Prime Minister Andrius Kubilius, reports ELTA. "I hear some comments that we have borrowed too expensively. Last October we paid 6.812 interest for a five-year loan of 1.5 billion U.S. dollars. Now we would have paid 6.21 percent in interest for [this] 2 billion U.S. dollars that we have borrowed for ten years, if we borrowed it for five years," Kubilius said on Feb. 8. Finance Minister Ingrida Simonyte says that no new bonds will be issued in the coming months; despite the better economic outlook, however, there are still plans to borrow around 13 billion litas (3.7 billion euros) this year. The Ministry says it will borrow the same amounts on the domestic market as before as the government borrows there for a shorter period.
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Title Annotation:LIETUVA IN BRIEF
Publication:The Baltic Times (Riga, Latvia)
Date:Feb 10, 2010
Words:163
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