The Senate has passed a bill that sets up a Public Credit System to establish a regulatory framework for public debts. The new legislation fixes parameters that will allow the government to obtain credit resources for the country under the best possible conditions in terms of cost and opportunity, according to Listin Diario. The lack of a legal framework up till now has made it difficult to establish an efficient state policy on public debt. As of the signing into law of the bill, a law will be needed for the government to serve as guarantor for public credit.