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.

Base on explanations, the resources will be used to finance social programs such as the Solidarity Network.

More on this topic

$456 million Debt Exchange in Panama

October 2012

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.

A statement from the Ministry of Economy and Finance (MEF) reads:

MEF makes successful swap of domestic public debt

Fitch Comment on El Salvador

March 2009

The new government of El Salvador faces a difficult economic reality

El Salvador elected a new president on March 15. Mauricio Funes of theFMLN party will take the presidency in what appears to be a difficult adjustment period for the global economy and particularly for El Salvador because it will have to face a disproportionate impact from the US recession and narrow external liquidity conditions.

Germany to Provide $30 Million for Projects in Nicaragua

March 2009

In 2009, Germany will maintain aid to Nicaragua and focus on water, the environment and governance.

The German ambassador in Managua, Betina Kern, signed a $1.5 million agreement yesterday to rehabilitate technical education institutes.

During the signing of the agreement, the diplomat indicated that aid to Nicaragua which in recent years has averaged $30 million will be maintained in 2009.

Guatemala negotiates exchange of debt

August 2008

The negotiations of the Department of Environment and Natural Resources with the international community to exchange debt for nature resources have already begun.

Germany is the first country to begin a dialog with Guatamala. 70 million euros is the amount being negotiated, as stated by vice minister Alejandra Sobenes.

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