The Ministry of Finance will present two law projects to Congress in order to obtain $950 million in creidt to refinance the debt.
If approved, the first loan would be from the Inter-American Development Bank (IDB), for a total of $500 million; the second would be from the World Bank for a total of $450 million.
According to the Minister of Finance, William Handal, $300 million of the funds granted by IDB would be used to for eurobonds payment (since there is a debt of $650 million that will expire in 2011), and the remaining $200 million would be used to restructure part of the debt or for new projects.