Press Release

No.: 91/1999
Date: 19 November 1999

Authorisations to borrow in 2000

The Ministry of Finance presents today a proposition to the Storting (Parliament) concerning authorisations for domestic and international borrowing in 2000.

The government's gross borrowing requirement for 2000 of 10 billion kroner is planned to be covered by domestic borrowing.

Developments in the 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 40 billion kroner and 20 billion kroner, respectively. Authorisations for maximum outstanding in short-term market instruments (certificates, bills etc.) and other short-term debt instruments are proposed at 100 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 2000.

Contact: Jan-Erik Støstad, telephone +47 22 24 45 04, mobile +47 900 51 251