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MNI BRIEF: German Issuance Plans On Schedule Despite Ruling

(MNI) LONDON

German Finance Agency says it will press ahead with usual issuance calendar, but may have to use draft 2024 Budget as guide.

German Finance Agency's 2024 issuance plans will be released on schedule, with debt sales likely to be determined according to a new draft Budget, following last week's Constitutional Court decision striking down government plans to transfer billion of euros of Covid-related borrowing to a climate and energy transition fund, a spokesperson for the Deutsche Finanzagentur told MNI.

"Until the budget law comes into effect, the issuance planning is based on a preliminary draft budget. In recent years, it has happened from time to time that no final budget has yet been determined when the issuance calendar is published," the spokesperson said. (See MNI INTERVIEW: Court Ruling Shaves 0.5% From German GDP-Demary)

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German Finance Agency's 2024 issuance plans will be released on schedule, with debt sales likely to be determined according to a new draft Budget, following last week's Constitutional Court decision striking down government plans to transfer billion of euros of Covid-related borrowing to a climate and energy transition fund, a spokesperson for the Deutsche Finanzagentur told MNI.

"Until the budget law comes into effect, the issuance planning is based on a preliminary draft budget. In recent years, it has happened from time to time that no final budget has yet been determined when the issuance calendar is published," the spokesperson said. (See MNI INTERVIEW: Court Ruling Shaves 0.5% From German GDP-Demary)

Keep reading...Show less