Wednesday, 09 February 2022 21:55

IMF offers financing to pay US$800 million maturity of the 2023 bond

Written by Evelyn Alas

The Minister of Finance, Alejandro Zelaya, said in a morning interview that several multilateral organizations including the International Monetary Fund (IMF), have offered the Central Government funds to finance the US$800 million maturity of the 2023 bond.

The official assured that the IMF from the beginning offered the financing to pay off this debt and in addition to that there are private banks with which it is possible to choose to issue another type of operation.

He also said that the institution is seeking to diversify and democratize this financing offer for El Salvador, which will help to improve the conditions of our public finances.

Zelaya said that access to more options to obtain resources reduces debt-related costs. In the process of looking for the best alternatives, they have found an option in the Banco de Desarrollo de América Latina (known as CAF), which works with the contribution of all its partners.

He assured that the agreement for the incorporation of El Salvador has already been ratified by the Legislative Assembly. Soon, the country will receive the president of CAF, Sergio Díaz Granados and the vice president, Christian Asinelli, to learn more about the projects that the Central Government is leading to attract investment and improve people's lives.

The official highlighted that after 61 years the country will be part of a new international financial organization of this category, after joining the Central American Bank for Economic Integration (CABEI) in 1960.