On July 17, the Panamanian government was able to issue bonds for $1.25 billion with a 3.160% interest rate and maturity in 10 years (2030), and others for $750 million with a 3.870% rate and maturity in 40 years (2060).

This issuance was made during the first days of Cortizo's administration, who assumed in a context of economic slowdown in Panama, since in 2018 the country's Gross Domestic Product reported a 3.7% year-on-year growth, far from the increases of 11.3% and 9.8%, reported in 2011 and 2012, respectively.

From the CCIAP statement:

The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) welcomes the response of the international market to the issuance of sovereign bonds for the historic sum of US$2 billion, which were oversubscribed in a proportion of five times the amount to issue. In addition, this issue has a very competitive interest rate.

For the guild it is positive that the strong demand for the bonds issued allowed Panama for the first time in history to quote a bond for more than 20 years with an interest rate below 4.0%.

Read full statement (In Spanish).

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On July 8, the Salvadoran government issued $1 billion in bonds on the international market at a 9.5% interest rate with a maturity date of 2052.

The resources collected through this international issue are part of the $3 billion debt issuance authorized by the government and will be used to finance the health and economic crisis resulting from the spread of the Covid-19.

Panama Issues $1.3 Billion in the International Market

November 2019

Bonds of $300 million maturing in 2030 and $1,000 million maturing in 2053 were issued at rates of 2.83% and 3.60%, respectively.

This is the second issue so far of Laurentino Cortizo's administration, since in mid-July the country issued $2 billion in the global market.

Costa Rica is Closer to Issuing Eurobonds

July 2019

The Legislative Assembly approved in first debate the issuance of $1.5 billion in debt securities in the international market, which in the opinion of the rating agencies, helps to reduce uncertainty about the government's ability to meet its financing needs.

The Treasury Department's initial plan was to issue $6 billion within six years, however, the committee in charge of the file modified the text so that the limit would be $1.5 billion.

More Debt, But with Economic Recovery

March 2019

Faced with the Costa Rican government's plans to issue $6 billion in debt over six years, the productive sector demands that "parallel and complementary actions for economic reactivation" must be implemented.

Currently, the deputies of the Legislative Assembly of Costa Rica have in their hands the bill that would authorize the government to issue debt securities in the international market (Eurobonds), a proposal that contemplates that in the first two years $1.5 billion are issued each year, and that in the remaining four $3 billion are issued.