Costa Rica to Issue $1.8 billion in Bonds

The borrowing plan presented by the Treasury for the first half of the year includes an issue of debt securities in the local market for up to $1.8 billion, mostly at a fixed rate.

Thursday, February 9, 2017

From a statement issued by the Ministry of Finance:

The Ministry of Finance and the Central Bank of Costa Rica (BCCR) today presented their debt issuance plans for the coming months.

The Central Government Borrowing Plan, for the first half of 2017, envisages placing on the market a maximum amount of ¢950 billion. The Ministry has chosen to place mostly fixed rate securities, as in previous years. Meanwhile, the Central Bank included a gross placement of ¢299,700 million in its plan for the whole of 2017, a figure which is much lower than that of past years.

In this regard, José Francisco Pacheco, vice minister of Expenditure, indicated that the presentation of these borrowing plans demonstrates the efforts they have been made in both entities to maintain stability and fluidity in the stock market; besides allowing government financing needs to be taken care of without putting further pressure on interest rates.

This time, although the financing needs projected by the Treasury have risen by 3% for the first half of 2017 relative to the same period last year, they are about ¢40 billion less compared to the average of the last three years. For passive management operation at least four exchanges are planned with series that mature in 2017, 2018 and 2019.

More on this topic

Costa Rica: Ambitious Debt Plan

July 2019

The aim of the government's debt plan for the second half of the year is to capture up to $2.43 billion in the local market, in addition to the $1.5 billion expected to be placed in the international market.

In its strategy for the coming months, the Government will manage liabilities (swaps and reverse auctions) for the series maturing in both colones and dollars.

Ambitious Plan for External Debt

November 2018

In Costa Rica, the Alvarado administration will ask the Congress for authorization to issue Eurobonds in international markets for at least $5 billion.

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.

Costa Rica to Issue $2 billion in Domestic Market

February 2015

Fixed interest rates and longer maturities characterize the issue of securities to be made by the Ministry of Finance in the local market during the first half of the year.

The Ministry of Finance in Costa Rica has announced the borrowing plan for the first half of the year, which involves making issuances of debt of $2 billion (1,100,000 million colones), through different types of instruments, in dollars as well as colones.

Upward Pressure on Interest Rates in Costa Rica

February 2014

The Ministry of Finance has announced that this year they plan to increase their borrowing in the domestic market by 46%.  

The Ministry of Finance announced that for the first six months of this year, they plan to increase their borrowing in the domestic market by 46% compared to the same period in 2013 . "... The Central Government is considering issuing a total of $1.8 billion in the first six months of this year."

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