Guatemala Renegotiates Debt for $890 million

The Ministry of Finance will be attempting to raise funds in the international and local market in order to improve the public debt profile.

Friday, December 2, 2016

The endorsement by the Congress will allow the Ministry of Finance to extend the term and reduce the cost of part of the public debt. The amount authorized amounts to $891 million and the Ministry of Finance plans to use the local and international markets to renegotiate. reports that "...The Monetary Board (MB) met and issued a favorable opinion to the proposal submitted by the Treasury portfolio, which as announced in February, aims to address the recommendations of technical assistance from the International Monetary Fund (IMF) for the management and administration of public debt made in August 2015."

"...The approval by Congress also indicates that the Minfin will inform the agency and the Comptroller General of Accounts of the list of loans to be replaced and report on the financial conditions obtained. One of the recommendations made by the IMF was a proposal for liability management operations to reduce refinancing risk, 'due to the concentration of debt amortization payments in the coming years.' "

More on this topic

Guatemala: Public Debt Exceeds 23% of GDP

October 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%.

Dominican Republic Issues $1.822 billion in Bonds

February 2018

The Caribbean country issued $1 billion on the international market for a term of 30 years and at a rate of 6.5%, and another $822 million with a 5-year term and a rate of 8.9%.

Dominican authorities reported that the country issued for the first time in the New York market, a 5-year bond issue for $822 million, and another, also in dollars, at 30 years and for $1 billion.

Nicaragua to Return to International Debt Market?

May 2014

Having for years funded public spending with resources from the Venezuelan government, the country now plans to issue government bonds abroad.

The stable economic growth that Nicaragua has achieved in recent years has enabled the country to improve its financial position and has impacted positively on the country's risk perception on the part of international investors, giving it an important advantage in the event of a possible bond debt issue on the international market.

Honduras: Sovereign Debt Rating Lowered

February 2014

Moody's has downgraded the government's debt bonds from B3 to B2 and modified the outlook to stable.

The growth of the fiscal deficit in 2013 of 5.9 % to 7.7 % of GDP and the rise in the issuance of debt securities in the domestic market led to the ratings agency Moody's to cut the credit rating for sovereign bonds traded on the international market.

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