El Salvador signs debt swap with Germany for $13 million
This is the first time that both countries are using the mechanism
Tuesday, December 2, 2008
The Government of El Salvador signed an agreement with Germany to swap 13 million dollars (10 million euros) that were loaned by Germany to be used for education.
The negotiations of the Department of Environment and Natural Resources with the international community to exchange debt for nature resources have already begun.
The Ministry of Finance made the operation of a domestic public debt swap successfully redeeming $455,968,000 without increasing the stock of public debt.
The new government of El Salvador faces a difficult economic reality
In 2009, Germany will maintain aid to Nicaragua and focus on water, the environment and governance.
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