President Carlos Alvarado asked legislators to approve the Eurobonds bill, in order to contribute to the stability of public finances.
Alvarado wants to deliver a country with a fiscal deficit of 1.2% of gross domestic product (GDP) to the next state authorities, on May 2022.
In exchange for the legislators’ approval of these initiatives, he guaranteed that there will be a reduction in spending for the Government of the Republic.
With these actions, Alvarado intends to prevent the country from going bankrupt and that this also implies layoffs in the public sector, reduction in investment and not being able to guarantee services in those classified as essential.
Although the government asked for $ 6 billion over six years, lawmakers are willing to approve a maximum of $2.5 billion for two years. The liberationists are inclined to only $ 1,500 million for the first year.