The parliament of Albania approved on Thursday the bill on the issuance of a 650-million-euro (735-million-U.S. dollar) Eurobond by the Ministry of Finance and Economy, a press release of the ministry said, Trend reports citing Xinhua.
Speaking in front of the lawmakers on Thursday, Minister of Finance and Economy Anila Denaj said that the issuance of the Eurobond in 2020 is foreseen in the Medium Term Debt Management Strategy, approved by the Albanian government and presented to the Parliament during the discussions on the 2020 Budget.
The ministry plans to issue the Eurobond with a maturity of seven to 10 years.
Denaj stated that this is the most opportune time to issue the Eurobond "as the financial markets are showing stability after the high volatility encountered after the spread of COVID-19."
The Bank of Albania has confirmed that the issuance of Eurobond does not affect the country's monetary policy and has a positive effect on foreign exchange reserves and macroeconomic stability in the short and medium term.
This is the fourth time for Albania to issue a Eurobond in the international financial markets, after the issuance in 2010, 2015 and 2018.