Structural Reforms and Economic Outlook of Slovakia
Debt Management Outlook in 2022
Total redemptions in 2022 only EUR 1.3 billion equivalent
EUR 1.16 billion equivalent - USD 1.5 billion bond maturing in May 2022
ā EUR 0.14 billion equivalent - CHF 0.175 billion bond maturing in April 2022
Uncertainty about state budget cash deficit
ā Cash deficit of state budget around EUR 4.6 billion in 2022 (preliminary estimate)
Total gross financing needs will be around EUR 5.9 billion, depending on budget deficit
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EUR 2.0 3.0 billion can be issued via regular monthly auctions
EUR 2.0 3.0 billion can be issued via syndications
No T-bills
No specific loans planned but could be arranged based on market conditions
Issued amounts can change based on State Treasury funds development + liquidity buffer optimization
Ultra-long or foreign currency issuances are less likely
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ARDAL
Source: ArdalView entire presentation