The Finance Minister, Rocío Aguilar, reported on November 20 that the country's public debt plans include the possibility of attracting more resources in the international market. One of the alternatives would be to place $5 billion in the next four years.

Aguilar explained that "... In the coming days, tomorrow or the day after, an authorization will be presented to the Congress to finance us in international markets. This becomes necessary because of the delay in the tax reform and constant indebtedness, expensive and short term accumulated. It is forcing us to release the pressure on the domestic market by competing resources."

The minister added that "... the authorization will be for a four-year period. In the first two years the authorization will be with a debt ceiling of up to $1.5 billion each. While in the other two years, an annual limit of up to $1 billion. The only point to be defined is whether the authorization is extended from four to six years."

Regarding recent debt issues, on November 19th the Ministry of Finance reported that it placed $200 million in firm domestic market and another $400 million in the best effort.

Source: Nacion.com

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