April 5 (SeeNews) - Montenegro's government has approved the proposed issuing of five-year and seven-year Treasury notes with a total value of 190 million euro ($213.3 million) to finance budget expenditure in 2019, a finance ministry official said.
Montenegro will issue five-year T-notes with a total value of 140 million euro and a yield of 3%, as well as 50 million euro seven-year T-notes yielding 3.5%, the head of the finance ministry's treasury department, Dragan Darmanovic, said in a government statement on Thursday.
The finance ministry said last month that it planned to issue the T-notes in April.
"Unlike in previous years when the nominal value of a T-note amounted to 10,000 euro, the nominal value of the securities from this issue will be 1,000 euro apiece, and we think that it will be closer and more acceptable to citizens in this way," Darmanovic said.
With the issue, the Montenegrin government aims to develop the domestic capital market in order to provide financing for the 2019 budget, he added.
Montenegro sold 213.6 million euro worth of government securities in 2018, up 2.6%.
($ = 0.88109 euro)