Ministerio de Finanzas Públicas (Guatemala) bond issue Debt Market bonds bons public debt Pavel Centeno Finance Public Finance debt payment Bank of Guatemala Sovereign debt construction sector Alejandro Sinibaldi Central Banking

Guatemala to Issue Bonds to Pay For Floating Debt

The issue that is planned to be made in July, will be used to settle accounts for $448.7 million which the government owes to builders.

Tuesday, June 4, 2013

"It's an important issue," said Alejandro Sinibaldi, head of the Ministry of Communications, Infrastructure and Housing (VIC), therefore, this month the initiative will be taken to Congress.

According to the Finance Minister Pavel Centeno, the project will be undertaken after rearranging the budget, as there are plans to make spending cuts of about $153.8 million amid falling revenues.

"The government did not include the payment to contractors in the 2013 budget, so they have to look for resources through loans or financing with bonds," noted an article in Eleconomista.net.

Source: ElEconomista.net