“We are in conditions of high inflation and high inflation expectations. Central banks respond by raising interest rates, and this creates highly volatile investment behavior. We have a high level of buffer that gives us a sense of comfort,” said Stefan Nanu, director general of the State Treasury, at a conference organized by Financial Intelligence on Friday.

What else Nanu said:

• We have 30 billion lei issued to retail investors. We try to cover all investment needs in both euros and lei. And it’s important to note that we don’t offer premiums for these shows.

• If there is even a short-term stabilization on the horizon, investors start buying and there is stable demand.

• If there is news that causes volatility, it can also lead to denial of limited requests. Outwardly, we had an ambitious broadcast plan. It is important for us to create predictability in what we do.

• From our discussions in the US, Romania looks pretty good. If we look at neighboring countries, we see more difficult situations than in Romania. The influence of American investors on Romania is quite high.

• Private pension funds are also a reliable investor in our instruments. In addition, our securities offer a good return compared to the risk to which they are exposed.