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Sweden to offer $23 bln in liquidity guarantees to energy firms

Author of the article: STOCKHOLM — Sweden aims to offer 250 billion Swedish crowns ($23.23 billion) in liquidity guarantees to energy firms that would last until March next year to help avert a financial crisis, Finance Minister Mikael Damberg said on Sunday. Without government’s guarantee, electricity producers could have ended up in “technical bankruptcy” on…
byAva Gardner
September 5, 2022
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Sweden to offer $23 bln in liquidity guarantees to energy firms
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STOCKHOLM — Sweden aims to offer 250 billion Swedish crowns ($23.23 billion) in liquidity guarantees to energy firms that would last until March next year to help avert a financial crisis, Finance Minister Mikael Damberg said on Sunday.

Without government’s guarantee, electricity producers could have ended up in “technical bankruptcy” on Monday, Damberg said, two days after Russia’s Gazprom shut the Nord Stream 1 gas pipeline, deepening Europe’s energy crisis. ($1 = 10.7633 Swedish crowns) (Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)

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