Press release
Ministry of Finance

9 November 1995

Authorizations to borrow in 1996

Today, the Ministry of Finance presents a proposition to the Storting (the Parliament) concerning authorization for domestic and international borrowing in 1996. A larger part of the government's gross borrowing requirement for 1996 of 56.6 billion kroner will be covered in the domestic market, while the remaining part will be covered by a reduction of the State's cash balances.

Developments in the money- and financial markets have illustrated the need for flexibility to adjust the governement's borrowing to changing conditions during the year. Therefore, the Ministry of Finance asks for authorization to raise loans that combined exceeds the borrowing requirement. The Minsitry proposes authorizations concerning new long-term domestic loans and new international loans of 60 billion kroner and 10 billion kroner respectively. Authorizations for maximum outstanding short-term debt are proposed unchanged from 1995: 10 billion kroner in short-term market instruments (certificates, bills etc.) and 70 billion kroner in other short-term debt instruments.

The actual programme of domestic borrowing will be discussed later and the Ministry of Finance, in consultation with Bank of Norway, is planning to publish an auction calendar of the issuance of the governement bonds and certificates in December.

Senior Information Officer Janne-Gro Rygg, tlf: (+47) 22 34 4109