Belgium raises cash with ease

The interest rate Belgium is being charged in order to borrow money has dropped to its lowest level in nine months. This means that the Belgian authorities can cheaply borrow cash to finance the country's state debt.

On Monday Belgium experienced no difficulty in raising 2.5 billion on the international money markets. On ten-year bonds Belgium now has to pay an interest rate of 3.8%. This is half a per cent less than last month.

Belgium raised 655 million euros on three-year bonds, 835 million euros on ten-year bonds and a billion euros on 24-year bonds.

Demand for Belgian debt was greater than supply allowing the Belgian state to borrow at a low interest rate for lengthy periods of time.