Pressemelding

Nr.81/98
Dato20.11.1998

Authorisations to borrow in 1999

Today, the Ministry of Finance presents a proposition to the Storting (the parliament) concerning authorisations for domestic and international borrowing in 1999. The government's gross borrowing requirement for 1999 of 35.3 billion kroner is planned to be covered by domestic borrowing.

Developments in the money and financial markets have illustrated the need for flexibility to adjust the government's borrowing to changing conditions during the year. Therefore, the Ministry of Finance asks for authorisations to raise loans that combined exceed the borrowing requirement. The Ministry proposes authorisations concerning new long-term domestic loans and new international loans of 50 billion kroner and 10 billion kroner respectively. Authorisations for maximum outstanding in short-term market instruments (certificates, bills etc.) and other short-term debt instruments are proposed to be unchanged from 1998 at 150 billion kroner and 90 billion kroner, respectively.

The actual programme of domestic borrowing will be decided later. In December, the Ministry of Finance and Norges Bank will publish auction calendars for the issuance of government bonds and certificates in the first six months of 1999.

Contact: Anne-Sissel Skånvik, telephone +47 22 24 41 09