Romania sells fewer six-months bills than planned

On Tuesday, 7th of September 2010, Romania sold less debt than planned at an auction of six-month Treasury bills, as investors demanded higher yields than the government was willing to pay. The average yield was 7.0%, unchanged from the last similar auction of notes in August 2010.
Romania, which relies on a USD 26 billion bailout led by the IMF, is struggling to raise funds from the domestic market to cover its budget deficit. In 2010 the Finance Ministry of Romania has raised 28 billion lei from the sale of Treasury bills and bonds from the domestic market, which is less than the planned 34.25 billion lei.

Source: Bloomberg