Government might not succeed in repaying the convened part of the debt to NBM

The Government might not fit in the limit settled by the Monetary Policy for 2006 as regards the level of the debt to the National Bank. According to this document, the debt of the Government should constitute 2 bln 492.2 mln. In order to fulfil the commitments settled in the Monetary Policy, the Government must pay almost MDL 29 mln (about USD 2.1 mln), without interests, in December. The Government transferred MDL 90 mln into the accounts of the NBM in 2006. Over the last two months – October and November – the Government did transfer money to the central bank for repaying the debt. Some experts do not exclude the fact that the Ministry of Finance confronts with difficulties in what concerns the accumulation of the incomes necessary in this respect. The state loans contracted previously from the NBM amount to MDL 2 bln 121 mln, and MDL 400 mln – state securities (SS) in the NBM portfolio obtained from conversion of loans contracted previously from NBM.