US$150m of Costa Rican bonds bought by China

As a sign of the excellent relations between the two countries, China bought a second batch of bonds of Costa Rica's internal debt for US$150 million.

Tuesday, February 17, 2009

The investment came on top of US$300 million in bonds China purchased on terms favourable to San Jose, the Finance Ministry Guillermo Zuniga said Monday.

The article in Top Ten Costa Rica informed: “The People’s Republic of China has purchased the second part of bond debt for US$150 million, under conditions similar to those of the first tract: a period of twelve years, with semiannual interest payments and a 2.0 per cent rate,” the ministry said.

“We are delighted to have completed this second transaction under the same conditions we made last year, following the same procedures that were analysed and endorsed by the General Accounting Office,” said Finance Minister Guillermo Zuniga.

The first US$150-million purchase of bonds in Costa Rica last year caused controversy after it was disclosed they had been purchased by China, which had not been initially revealed.

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As in Panama, there are hundreds of millions of untapped dollars in loans that were obtained to prevent illiquidity in the Costa Rican banking system.

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At the close of July there was a budget surplus of $271 million in spite of the economic slowdown.

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World Bank plans US$100 million loan for Honduras

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The World Bank is going to lend Honduras US$100 million in the second half of this year, the bank's managing director, Juan José Daboud, announced.

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