The government starts the second half of the year with less financial pressure due to a successful first half of the year in terms of placement.
In total, 1.4 billion colones will be needed to meet its financial needs for the second half of the year. This figure is exactly the same as in the first half of the year, only in the domestic market, but does not include Eurobonds.
In fact, with a cut to this Monday, 267 billion colones had already been placed.
Maybe the number sounds high, but multilateral credits are not included,”
said treasurer Marta Acosta.
It’s all because the market is much more confident in Treasury placements and this has allowed the upcoming maturities to be changed for a longer term.
Successful operations have allowed the government to pre-allocate 300 billion. The Treasury plan is to place 65% of the placements at fixed rates over five years.
We had a first semester that exceeded our projections. In addition to efforts to make proper debt management, with the authorization of the issuance of Eurobonds we will reduce the pressure on the local market,”
said Rocío Aguilar, Minister of Finance.
The fixed-rate dollar placements are 15%, while the variable rate and zero-coupon titles will be 10% each.
Marta Cubillo, national treasurer, confirmed that the goal is to take pressure off short-term maturities.