On Tuesday, with 43 votes in favor, the Legislative Assembly approved in second reading an authorization to the Ministry of Finance to acquire debt abroad for $1.5 billion in Eurobonds for one year.
Only the seven legislators of the independent New Republic bloc voted against.
The permit will allow the Treasury to issue public debt bonds with European investors and multilateral organizations for that amount.
The mechanism will replace the Government’s indebtedness in the local market. In addition, it will open up possibilities for the country to obtain better interest rates for longer terms for loans.
The Ministry of Finance must submit quarterly reports on the progress of Eurobonds before the Legislative Plenary and the Comptroller General of the Republic.