Spain approaches sovereign-wealth funds in Middle East

10/21/2008 | International Herald Tribune

Spanish Industry Minister Miguel Sebastian said the country plans to issue public debt to fund its bank-rescue package and has approached sovereign-wealth funds from the Middle East about buying the debt. Spain's efforts to boost interbank lending and liquidity could fail if it does not receive investment from other countries. "You can only increase liquidity in the system if we attract liquidity from abroad," Sebastian said. "We are offering these sovereign funds the chance to buy Spanish bonds."

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