Who is planning to purchase them ??? Not me !!!
ARTICLE:
More on the new bond issue
While both the Liberation Party (PLD) and the Reformist Party (PRSC) are officially opposed to the new bond issuance, President Mejia has stated that he will talk to both parties with an eye on convincing them to embrace the terms of the deal. On the other hand, the bonds have received the support of the American Chamber of Commerce in the Dominican Republic and that of the National Council of Private Eenterprise (CONEP), which has conditioned its position on the government committing to fiscal discipline.
Spokesmen from both organizations have come out in favor of the new placement, ?if it is wisely handled.? The Archbishop of Santo Domingo, Cardinal Lopez Rodriguez, has also stated that he approves of the sovereign bonds. He says they are a necessity for the government, but cautions that the money generated from the new issuance must be ?handled with absolute responsibility.?
The government is proposing to make a US$600-million placement this year. President of the Senate Andres Bautista told Diario Libre that US$135-million would be use to pay debt with Dominican commercial banks, US$215-million would go to the restructure the foreign debt, and US$150 - US$250-million would be used to increase the reserves of the Central Bank.
NOTE: I heard the the Government of DR is in default of payment of BONDS previously ISSUED. Therefore, CAVEAT EMPTOR !!!
ARTICLE:
More on the new bond issue
While both the Liberation Party (PLD) and the Reformist Party (PRSC) are officially opposed to the new bond issuance, President Mejia has stated that he will talk to both parties with an eye on convincing them to embrace the terms of the deal. On the other hand, the bonds have received the support of the American Chamber of Commerce in the Dominican Republic and that of the National Council of Private Eenterprise (CONEP), which has conditioned its position on the government committing to fiscal discipline.
Spokesmen from both organizations have come out in favor of the new placement, ?if it is wisely handled.? The Archbishop of Santo Domingo, Cardinal Lopez Rodriguez, has also stated that he approves of the sovereign bonds. He says they are a necessity for the government, but cautions that the money generated from the new issuance must be ?handled with absolute responsibility.?
The government is proposing to make a US$600-million placement this year. President of the Senate Andres Bautista told Diario Libre that US$135-million would be use to pay debt with Dominican commercial banks, US$215-million would go to the restructure the foreign debt, and US$150 - US$250-million would be used to increase the reserves of the Central Bank.
NOTE: I heard the the Government of DR is in default of payment of BONDS previously ISSUED. Therefore, CAVEAT EMPTOR !!!