The government will renegotiate the sovereign bonds as it seeks to borrow US$250 million in Spain to meet the requirements of the Paris Club and resume the standby arrangement with the International Monetary Fund, as reported in El Caribe. Finance Minister Vicente Bengoa said that they are in the process of choosing the company that will assist with the renegotiating of the bonds. The minister also said that for the remainder of the year, the government is facing foreign debt commitments of US$400 million, primarily to cover bilateral debt and amounts owed to commercial banks, the World Bank and the Interamerican Development Bank (IDB).
Bengoa said he will travel to Spain with Technical Secretary of the Presidency Temistocles Montas and the economic advisor to the Executive Branch, Julio Ortega, to meet with high-ranking officers of the Spanish government.