Romania wants to sell EUR 1 bln of Eurobonds before elections

The Romanian government plans to sell at least EUR 1 billion of Eurobonds before the presidential elections on November 2, according to Budget Minister Darius Valcov, cited by Bloomberg. The sale was initially planned by year-end, according to previous comments by the Finance Ministry’s deputy head of Treasury, Diana Popescu. As polls showing current Prime Minister Victor Ponta is set to win the presidential elections, a successor government might face difficulties controlling the deficit, which would be a risk to Romania’s bond rally, according to Erste Group Bank AG. “Risks from the elections are leading them to consider accelerating the bond sale,” Dumitru Dulgheru, a Bucharest-based economist at Erste told Bloomberg.