Latvia plans to borrow around three billion next year

According to the indicative projections, the total borrowing amount of Latvia in 2024 could be three billion euros, and most of it will be directed towards refinancing previously assumed public debt liabilities, representatives of the State Treasury told LETA November 22.

In 2024, it is planned to attract the necessary resources both in international financial markets by issuing Eurobonds, as well as in the internal market, organizing auctions of additional tranches of euro bonds in circulation, and issuing savings bonds.

Treasury representatives said that borrowing measures will be taken in a similar way to previous years, maintaining maximum flexibility in both the choice of the financial market and the choice of borrowing conditions to be made on financial markets in terms of borrowing time, currency, volume, maturity, and instruments.

But borrowing costs or interest rates will be affected by the current situation in the financial market at the moment of borrowing, the Treasury said, adding that recent years have shown that interest rates can fluctuate significantly due to various factors such as monetary authority decisions, negative events, and news.

The Treasury regularly borrows in financial markets to cover the overall financing needs - financing of the government deficit, planned repayment of the government debt, and financing of State loans.

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