Costa Rica: Government Raises More Dollars

The need for dollars has led the Ministry of Finance to buy $259 million in the local market in just two months.

Monday, December 2, 2013

Between October and November the Treasury raised on the local market equivalent to 91 % of everything that has been raised in bonds denominated in the U.S. currency, reflecting the need for the entity to obtain fresh funds in dollars.

These deposits in the local market are added to the dollars obtained through the recent issues $1 billion each in the international market.

Elfinancierocr.com reports: "Despite this increase, the local financing by the government in dollars is a minority, as most of the operations are made in colones at fixed interest or variable rates.

The head of this department, Edgar Ayales denied that resources from Eurobonds have been exhausted and rather assured that there are sufficient funds to meet financial obligations for the first part of 2014. "

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