President Hipolito Mejia announced during the Government Council meeting that the governmental bank Banreservas has received a US$597,660,000 transfer of the US$600-million sovereign bond placement money. The difference is attributable to the commission for the placement.
Diario Libre reports that 70 percent of the bonds were placed in the United States and 30 percent in Europe. The newspaper explains that US$150 million will be used to strengthen the reserves of the Central Bank and US$135 million to pay debts with local commercial banks. Another US$315 million will be used to renegotiate foreign debt.
