The Chamber of Deputies passed three bills that authorize the Executive Branch to issue bonds for RD$8.28 billion to pay internal debts of the government and capital for the Central Bank and the governmental Banco de Reservas. The Executive Branch bills had already been approved in the Senate and thus only require the presidential signature and publication to go into effect.
The funds would also be used to redeem 50% of the bonds issued under Law 104-99. A first reading received 117 votes, a second received unanimous approval of 119 deputies present at the session.
RD$2.57 billion in bonds would be issued on 30 April 2005 for a four-year term, with 7% semestral interest through expiration. A second bond for RD$2.33 billion would serve to capitalize the Central Bank and will yield 2% biannually, plus indexation to inflation of the previous six months. Another RD$1.5 billion would serve to capitalize the Banco de Reservas, on similar terms.