Debt Portfolio Management Quarterly Report

Debt Portfolio Management Quarterly Report contains the evaluation of the announced strategic targets, operative fulfilment of funding programme and issuance activity plans, and further contains regular quarterly performance evaluation of primary dealers in Czech government.

ilustrace

Published

Debt Portfolio Management Quarterly Report - First Half of 2016

There has been a decrease of the absolute value of the state debt by CZK 3.4 billion in the second quarter of 2016. Another decrease is expected in the second half of 2016 where 70% of redemptions of medium-term and long-term government bonds maturing in 2016 are concentrated.

Published

Debt Portfolio Management Quarterly Report - 1st Quarter 2016

The Ministry of Finances continues to utilize extraordinary situation on financial markets during the first quarter of 2016 and carried out the sales of state government bonds for negative yields in total nominal value of CZK 55.8 billion, due to which the Ministry of Finances received extra revenue of the state budget amounting CZK 100.2 million.

Published

Debt Portfolio Management Quarterly Report - First Half of 2015

During the second quarter of 2015, the decrease of CZK-denominated value of the state debt has continued, as during the first half of this year it has decreased by CZK 0.65 billion, while in second quarter of the year it has decreased by CZK 77 million.

Published

Debt Portfolio Management Quarterly Report - 1st Quarter 2015

Due to the effective available state treasury liquidity management, the stabilized development of CZK-denominated value of the state debt has continued, as it has decreased slightly by CZK 550 million compared to the end of 2014. This brings positive impacts in the form of savings in interest expenditure of the state budget related to the issuance activity of the state during the year. The net interest expenditure on state debt service were CZK 1.1 billion lower compared to the same period of the previous year.

Published

Change in the Format of Debt Portfolio Management Quarterly Review

Due to the change in the format of communication of the MoF with the public, which took place starting with the publishing of The Czech Republic Funding and Debt Management Strategy 2015, there is also a change in format and publishing date of Debt Portfolio Management Quarterly Review.

Published

Debt Portfolio Management Quarterly Review - September 2014

In the third quarter of 2014, the decrease in CZK-denominated value of the gross state debt has continued. The decrease has amounted to CZK 297 million in comparison to the end of the first half of 2014 and CZK 332 million in comparison to the end of 2013. The decrease in CZK-denominated value of the gross state debt is in accordance with the Ministry of Finance’s plan of stabilization of the state debt, which brings positive impacts, especially in the form of savings in interest expenditure of the state budget related to the issuance activity of the state during the year.

 

Published

Debt Portfolio Management Quarterly Review - June 2014

In the second quarter of 2014, the stabilization of the CZK-denominated value of the gross state debt at the level of the end of 2013 has continued, as the gross state debt decreased by CZK 82 million during this period. In comparison to the end of 2013 the CZK-denominated value of gross state debt decreased by CZK 35 million. The stabilization of the gross state debt is mainly related to the ongoing more effective involvement of available liquidity of the state treasury. The stabilization of CZK-denominated value of the gross state debt is in line with the budget surplus of the Czech Republic, which amounted to CZK 1.5 billion at the end of the first half of 2014. At the end of the first half of the previous year, the state budget was in deficit of CZK 31.5 billion.

Published

Debt Portfolio Management Quarterly Review - March 2014

During the first quarter of 2014, the CZK-denominated value of the gross state debt was stabilized at the level as of the end of 2013. The gross state debt as of the end of the first quarter 2014 was only CZK 46 million higher compared to the end of 2013.

Published

Debt Portfolio Management Quarterly Review - December 2013

In 2013, the state budget ended in a deficit of CZK 81.3 billion, which resulted in its decline of CZK 18.7 billion compared to the budgeted amount of CZK 100 billion. In accordance with The Czech Republic Funding and Debt Management Strategy for 2014, this difference will be reflected in the higher available cash reserve at the end of 2013, which amounted to CZK 62.7 billion, and will be fully used to cover financing needs in 2014. The lower decrease of cash reserve due to the lower state budget deficit in 2013 will result in the reduction of the gross borrowing requirement of the central government in 2014 to CZK 350.1 to 381.4 billion under the alternative scenario of funding programme. The reduction of the gross borrowing requirement of the central government implies the decrease of the maximum nominal value of the gross issue of medium-term and long-term government bonds on domestic market, which will not exceed CZK 262 billion.