CONSIDERATIONS ON THE ISSUANCE OF MUNICIPAL BONDS IN ROMANIA

Liliana Bunescu

Studies in Business and Economics, 2010, vol. 5, issue 2, 14-23

Abstract: The global financial crisis raised the price of the access to bank loans, a viable solution for financing is represented by issuing municipal bonds. This paper presents the current situation of municipal bons issues in Romania focusing on destination, on costs, on loans’ guarantees and their impact on indebtedness of local government. Local municipal bond market in Romania has a relatively short history, tailored after 2001, knowing that a considerable advance in recent years. The most common reasons for which public authorities are calling for loans are: either in need of cash or in need to balance the budget.

Keywords: municipal bonds; interest rate; maturity; grace period (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:blg:journl:v:5:y:2010:i:2:p:14-23

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