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Reforms and growth earn cheap credit.
(From The Slovak Spectator)
Byline: Beata Balogova Spectator staff
Slovak Eurobond assigned lowest interest rate among new EU members SLOVAKIAS economic awakening continues to pay dividends, this time in the form of cheaper international credit.
In late March the country took another step towards joining the European Monetary Union by floating a 15-year 1 billion Eurobond at four percent interest.
"Thanks to the positive development of the economy and the state budget, Slovakia managed to borrow funds for a price that no other new EU member has managed to get so far," Finance Ministry spokesman MikulaS Gera told The Slovak Spectator.
The bond was issued under Slovakias new 2 billion Euro Medium Term Note (EMTN) program, which enables the country to annually place up to 2 billion in Eurobonds on European stock markets.
"The EMTN program gives us more flexibility in issuing bonds.
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