The Chamber of Deputies rushed approval in two readings for the issuance of RD$8.2 billion in domestic bonds yesterday. The bonds, with a 7% annual yield, will be used to pay off the government debt to the private sector. Funds will also be used to capitalize the Central Bank and Banreservas, the government commercial bank. The deputies also authorized the government to issue new sovereign bonds to be exchanged for the old ones placed in 2001 and 2003. The government hopes for better payment conditions that may be compatible with its capacity to pay.
The bills are expected to be reviewed by the Senate this coming Tuesday.