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- Germany to sell record debt in 2021 - Federal Finance Agency
Germany to sell record debt in 2021 - Federal Finance Agency
Bloomberg reports that Germany will sell a record amount of federal debt in 2021 to help prop up the economy in the second year of the coronavirus crisis.
According to the Federal Finance Agency’s provisional calendar, Europe’s benchmark issuer plans to sell as much as 471 billion euros ($576 billion) in bonds and bills, easily exceeding a previous high of 407 billion euros sold this year.
“The comparatively high issuance volume is primarily a consequence of the Covid-19 pandemic,” the agency said in a statement. The debt issuance includes funding for two special vehicles -- the Economic Stabilisation Fund to counter the fallout from the pandemic and the Financial Market Stabilisation Fund, set up during the financial crisis in 2008.
The agency also plans to sell a maiden 30-year green bond in May and as much as 8 billion euros in inflation-linked securities. Two of next year’s debt sales will be syndicated.
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