Czechs May Delay Eurobond Sale After Boosting Local Funding
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The Czech Republic may delay plans to sell Eurobonds this year because international markets are volatile, while budget cuts and low inflation help borrowing in the local currency.
The government this month sold about 20.4 billion koruna ($1.1 billion) of retail bonds, double the target, and will keep the money for 2012, Petr Pavelek, head of the Finance Ministry’s debt-management department, said yesterday. Earlier plans for 50 billion koruna in domestic bond auctions this quarter remain unchanged and will cover remaining funding needs.