Aktualitet

Debates in the Commission on the issuance of Eurobond 700 million euros

Debates in the Commission on the issuance of Eurobond 700 million euros

The Committee on Economy and Finance met today to review the draft law on Eurobond, which will be issued by the Minister of Finance and Economy. The Eurobond of 700 million euros, with a maturity of 7 to 10 years will serve to meet the needs of the budget.

The meeting was accompanied by debates.

Debates in the Commission on the issuance of Eurobond 700 million euros

The Minister of Finance and Economy, Delina Ibrahimaj said:"The issuance of a Eurobond has a special importance especially for countries with a small economy. Eurobond not only helps us to meet the normal needs of the state budget, but represents an opportunity to improve investor prospects, further introducing optimistic medium-term prospects. In previous outings we have had falling interest rates. The Eurobond will be from 500-700 million euros and a maturity of 7 to 10 years based on loan markets. We are at the end of completing the documents. Funding will be used for budget support and education, health, agriculture or infrastructure and public investment support will be used. Part of the investment will remain in the treasury for 2022. It is in our interest to get a bigger debt this year if there are lower interest rates and not to go out next year as the central banks have announced that there will be monetary policy tightening and higher interest rates. The energy crisis is also having its effects. It is therefore in our interest to get Eurobonds in higher value this year and not to go out last year. "We are working to meet the parameters to get off the gray list for money laundering."

DP MP Jorida Tabaku said:"Public debt is at about 80%, we are on the gray list for money laundering. The Ministry has not taken into account these issues and they are a concern for me. We are borrowing but without knowing what we are borrowing for, the debt borrowed was not only used for investment but was also used for operating expenses and was also used for wages. In 2013 the debt was 6.3 billion euros while now it is over 10.2 billion euros and we do not know how it was used and whether it was effective. Debt does us good when used for significant investments. We do not know how this debt will be used and for me it is very dangerous. The second concern is about the IMF statement that had the main criticism of how public debt is managed. "The IMF demanded a review of priorities. We can not borrow PPPs."

SP MP, former Minister of Finance, Anila Denaj said: “SP has returned the money owed to public investments. "Long-term instruments have changed the structure of debt."

After that, the deputy Dashamir Shehi returned to him: “Take this relationship and enjoy it, but let me know how good the Albanian economy is, we do not eat these. Why is it successful to borrow? I also heard from the Minister that the debt structure has been improved. Are we going to do exactly that we get a billion next year and this long-term improvement for us, this is the way to improve it, this is a good thing. So we are sick, but we do not have such a terrible disease because burial will make us with good coffin. "This is a great shame."

DP MP Bujar Leskaj said:"I take a Eurobond for bad purposes, for hallucinatory purposes, if it is used to launch satellites in space, then it kills the public finances of a country with a fragile economy such as the Albanian economy. You with the fifth Eurobond with which you will go out these days, the foreign debt in commercial terms goes in these 5 years from the government goes to 2.2 billion euros, only received through the Eurobond, or 786 euros for every current resident of Albania. The Rama sect with all the fanfare and 3D stunning for which it invests and here it really invests without saving the money of the Albanian taxpayers, will advertise the fifth Eurobond as an extraordinary success. In fact getting a new debt to pay off old and new debts that is gaining traction the irresponsible governance of the global leader only increases beyond any limit the stock of our public debt and undermines to the brink of catastrophe our public finances. We are taking in a time interval two eurobonds with a total value over 1 billion euros. No country in the region has received two trade debts like us. For the first 6 months of 2021 we paid from taxpayers' money 6.5 billion ALL or 53 million euros interest on foreign debt with an increase of 55% compared to a year ago. In the last 5 years we notice an alarming increase in expensive debt. For the first 6 months of 2021 we paid from taxpayers' money 6.5 billion ALL or 53 million euros interest on foreign debt with an increase of 55% compared to a year ago. In the last 5 years we notice an alarming increase in expensive debt. For the first 6 months of 2021 we paid from taxpayers' money 6.5 billion ALL or 53 million euros interest on foreign debt with an increase of 55% compared to a year ago. In the last 5 years we notice an alarming increase in expensive debt.
I wish you success, Minister, and I will be satisfied if in your presentations to the commission, as we are serious, you are more responsible in answering the questions ".