The country issued $500 million in the international market with a 12-year term, at a rate of 5.37%, and $700 million in the 30-year term, at an interest rate of 6.13%.
The operation was carried out through the Bank of America (BOFA), one of the most important investment banks in the world, chosen through a competitive process, informed the Public Finance Ministry (Minfin).
To ensure financing for its future functions, the Costa Rican government will seek loans from the World Bank, IDB, CABEI and CAF during 2020, and plans to insist on the approval of $4.5 billion in Eurobonds.
For this year, the Costa Rican government plans to continue negotiating loans for budget support with the World Bank, the Inter-American Development Bank (IDB), the Central American Bank for Economic Integration (CABEI) and the Andean Development Corporation - Latin American Development Bank (CAF).
Costa Rican authorities informed that Citi Global Markets and HSBC Global Banking will be the placement banks and financial advisors that will accompany the country in the process of issuance of securities and management of liabilities in the international market.
The issue that will be made at the international level is the one that was approved on July 16 through Bill No.
Although the Legislative Assembly approved the issuance of $1.5 billion of debt in the international market, Fitch Ratings believes that in the coming years there could be renewed uncertainty about the sources of financing for the Costa Rican government.
The Ministry of Finance reported that the placement was made through an extraordinary auction of domestic debt securities in the local primary market.
Costa Rican authorities informed that the collection was made through fixed rate securities in dollars with expiration in 2024, 2026 and 2029, and was assigned to 15 different stock exchange positions.
At the end of last year, the public sector's external debt totaled $7.378 million, 3% more than the $7.145 million reported at the end of 2017.
The Public External Debt/Gross Domestic Product (GDP) Balance indicator at the end of 2018 stood at 30.5%, 0.6% lower than the figure reported at the end of 2017, informed the Central Bank of Honduras (BCH).
At the end of the first month of 2019, public external debt reached $5.966 million, 7% more than that reported in January 2017, a rise explained by loans granted by multilateral agencies.
The report of the Central Bank of Nicaragua (BCN) "... According to these statistics, public external debt totaled US$5,966.6 million, representing a net increase of US$17.0 million over the previous month.
At the end of last year, Nicaragua's public external debt totaled $5.940 million, 7% more than at the end of 2017.
The Central Bank of Nicaragua reported that "... According to statistics, public external debt totaled $5,940.1 million up to December 2018, representing a $58.3 million net increase over the previous month.
Of this total, US$4,140.7 million are debt with multilateral creditors (69.7%), US$1,748.9 million with bilateral creditors (29.4%) and US$50.5 million with private creditors (0.9%).
In Costa Rica, the private sector anticipates adverse effects on the export and tourism sector's competitiveness if the Ministry of Finance succeeds in consolidating its plan to issue $6 billion in bonds in the international market over the next six years.
The reaction of the country's export sector comes after the government announced this week that it will ask the Congress for authorization to issue bonds in international markets for at least $5 billion.
The Ministry of Finance reported that $200 million of the bonds placed in the domestic market were "in firm" and another $400 million placed to the best effort.
The Ministry of Finance reported that because of Direct Contracting No. CD-MH-CP-TN-001 -2018 called "Contract for issuance services and distribution of internal debt securities", on November 19th two companies were awarded with a firm issuance of $100 million each.
At the end of the third quarter of the year, the total public debt of the country's Central Administration amounted to $11.002 million, 3% more than that reported in the same period of 2017.
During 2018, the total public debt balance of the Central Administration of Honduras reached US$11,002.8 million, which represents an increase of 0.13% with respect to the Second Quarter of 2018.
At the end of 2018, the Costa Rican government needs about $1.5 billion to pay salaries, transfers and debts to state creditors.
According to Rocio Aguilar, head of the Treasury Department, there is currently just over half of the resources needed, which totaled $3 billion.
Aguilar explained to Crhoy.com that there are possibilities that "... The debt issuance contracts will allow them to obtain those resources from here to the end of the year, to successfully close 2018."
Up to August, the external and internal public debt amounted to $18.463 billion, equivalent to 23.4% of the country's Gross Domestic Product.
According to figures from the Ministry of Public Finance, in the last nine years the debt to GDP ratio has slightly varied, between 23.3% and 24.8%.
Regarding the country's indebtedness level, Abelardo Medina, senior economist at the Central American Institute of Fiscal Studies, said to Dca.gob.gt that "... It is interesting to note that, although Guatemala reports the lowest level of debt in the region and one of the lowest in the world, the evaluation given by risk rating agencies does not reach investment level. This is a product of political instability but, especially, it is due to the limited size of its fiscal revenues."
In Panama, the Varela administration has submitted a bill that aims to raise the limit of public debt by $900 million more than the limit currently established.
The Minister of Economy and Finance, Eyda Varela de Chinchilla, presented a bill to the National Assembly to amend Law 34 on Fiscal Social Responsibility and Law 38 of 2012.
At the end of the second quarter of the year, the country reported that the total external debt amounted to $11.728 billion, an amount that exceeds by 1.9% what was recorded at the end of 2017.
Nicaragua's total external debt totaled 11.728 billion dollars, of which 6.0832 billion corresponds to the private sector and 5.6448 billion to the public sector.Total external debt increased by 175.7 million dollars (1.5%), compared to the first quarter of 2018, reported the Central Bank of Nicaragua.