Investor Presentaiton
33
FLEXIBILITY IS EMBEDDED IN LATVIA`S FUNDING STRATEGY
Main funding instruments are government debt securities issued in the international and domestic capital market
2 200
2 000
1 800
1 600
1 400
1 200
1 000
Debt redemption profile (million EUR)
stluk….
800
600
400
200
0
2023
Oct-Dec
2024
2025
2026
2027
2028 2029 2030
2031
2032
Domestic securities (LV ISIN)
Source: The Treasury, on September 30, 2023
■Other external debt liabilities
Eurobonds (XS ISIN)
2033 2034- 2036 2037- 2047 2048- 2050
2035
2046
2049
■Eurobond (XS ISIN) TAPS in domestic market
Power of the funding strategy lies within:
✓ Flexibility in choice of timing of issuance
✓ Flexibility in choice of currency
✓ Flexibility in tenors
✓ Flexibility to combine instruments and other
available alternatives
✓ Maintained comfortable liquidity buffer
Actual
2022
Estimated central government borrowing volumes in 2022-2024
(including international and domestic market)
Actual
Plan
Jan - Sep 2023 Oct-Dec 2023
Plan
2024
Gross Borrowing
volumes
2.2 bn EUR
2.6 bn EUR
0.8 bn EUR
3.0 bn EUR
(nominal amount)
Cash buffer
3.9
5.0
(% of GDP)
Source: The Treasury, September 2023
The estimated gross borrowing volume is indicative,
subject to actual state budget execution and may
change due to number of contingencies and external
factors, for example:
•
possible additional financing requirement arising from the
geopolitical situation and measures to strengthen
national security of Latvia
possible support for the economy and society to reduce
the negative impact of increase in energy pricesView entire presentation