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• Issuance Calendar of T-Bills for 2nd Quarter of 2008
• Issuance Calendar of T-Bonds for 2nd Quarter of 2008

Issuance calendars results from Financing and Debt Management Strategy for 2008.

The Ministry of Finance of the Czech Republic releases a new macroeconomic forecast - January 2008 on its Internet sites.

In the forecast it expects favourable macroeconomic development to go on, albeit on a lower level. Real growth of GDP should reach 4.7 per cent in 2008. This growth will be pulled by accelerated growth of investment activity while effect of foreign trade performance will be lower and household consumption will fall compared with 2007.
In 2009 growth will keep up at some 5.1 per cent, which roughly corresponds to growth of potential product. Convergence of the Czech economy to advanced European countries’ level will continue.

• Macroeconomic forecast - January 2008

The regular comprehensive evaluation of Primary Dealers is carried out on the basis of the four quantitative criteria specified in „Financing and Debt Management Strategy for 2006“ published on 1st December 2005 .

The next five financial institutions listed thereinafter were the most active in the Czech domestic primary and secondary government bond market, in the electronic secondary NewEuroMTS market with trading of Czech eurobonds, in operations within financial management of debt portfolio and in the treasury liquidity management operations.

• 1. KBC N.V. / Československá obchodní banka, a.s.
• 2. Erste Bank AG / Česká spořitelna, a.s.
• 3. Société Générale Bank / Komerční banka, a.s.
• 4. ING Bank N.V.
• 5. Barclays Bank Plc

Source: MF, Debt and Financial Assets Management Department MF CR

The regular comprehensive evaluation of Primary Dealers is carried out on the basis of the four quantitative criteria specified in „Financing and Debt Management Strategy for 2006“ published on 1st December 2005 and put more formally within the document „Conduct of Cooperation and Performance Evaluation of the Activities of Primary Dealers in the Czech Government Bonds“ released in the Ministry’s Financial Newsletter, No. 11-12, on 15th December 2006.

The Ministry of Finance submitts the twelfth Debt Portfolio Management Quarterly Review to present the underlying debt portfolio risk management measures and performance with respect to the planned annual financing programme and achieving the medium-term strategic targets of debt management policy. For the year 2007, these targets were concretised and quantified by the Financing and Debt Management Strategy for 2007 released on 1 December 2006 and based on the Finance Minister’s decision. It specifies an operational framework for the tactical management of state debt and financial assets through the active financial operations on the secondary market.