(MENAFN) Spain's Treasury stated that following the recent USD125 billion rescue loan secured from euro zone partners, the government is pledged to implement austerity measures and reforms, reported Khaleej Times.
The Treasury said that it will continue to raise financing through bond auctions, adding that it has already collected 56.8 percent of the total USD108.18 billion it plans to gather in 2012 through regular auctions of medium- and long-term bonds.
Moreover, the upper limit of the USD125 billion assures a credible backstop, providing a sufficient amount to cover any capital requirements in the most stressed theoretical scenarios, plus an additional shield.
It is worth noting that the euro loan, which will be used to support Spain's largest banks, would strengthen the solvency of the country's public debt.
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