El Salvador to Issue $350 million in Bonds

The Ministry of Finance plans to issue before the end of the year the balance remaining on the $1,150 million in bonds approved by Congress in May.

Monday, November 17, 2014

Amid criticism from the opposition and the private sector over the continued increase in public debt, the government is preparing for the end of the year the issuance of $350 million, the remainder of the $110 million which was requested and approved by Congress in May.

Jesus Roberto Solorzano, deputy finance minister, told Elsalvador.com that "... Yes, they are going to do it this year. Remember that a bond issue is not simple, it is something that has different aspects and different stages of financial order and legal order. "

'... The fiscal deficit for this year will be around 4% of GDP, compared to what they had budgeted they would collect. Tax revenues have been less than $250 million. "

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