Romania’s officials in charge of debt management told investors the country will likely scale back its eurobond issuance plan for this year as it boosted borrowing on the domestic market, according to people familiar with the matter. The Black Sea nation won’t sell more eurobonds until a new government is formed and there is greater clarity on the political situation, treasury chief Stefan Nanu said at a meeting with investors in London, the people said, asking not to be identified because the talks were private. The Finance Ministry in Bucharest had no immediate comment when contacted by Bloomberg News.

Romania has raised about €5 billion in international bond markets so far this year through euro- and dollar-denominated tranches, against an original external borrowing target of €10 billion. Official data also show that the country completed roughly €2 billion in private placements. The country has been one of the most active borrowers in foreign currencies in eastern Europe as it sought to finance a large budget deficit.

Romania’s markets were jolted by a political crisis following the collapse of a coalition government in May over austerity measures. While the government has curbed the budget deficit more than expected so far this year, the fresh political turmoil has raised concerns over further fiscal improvement in 2027. President Nicusor Dan has scheduled fresh talks with the country’s main political parties this week, aiming to designate a new prime minister and break a four-month-long deadlock.

Romania narrowly avoided having its debt cut to junk grade at Fitch Ratings in July and Moody’s Ratings also affirmed its score last month. S&P Global Ratings, which similarly assigns Romania the lowest investment grade, with a negative outlook, is expected to publish its review next month.