In May Congress approved a $1.800 million debt plan, which includes $800 million for facing the due date of short term debts, as well as $650 million for the expiration of foreign debt.
The Salvadoran Foundation for Social and Economic Development(FUSADES), recommended the issuance of $800 million worth of Euro-bonds to cover the expiration of the Treasury Notes. This way, a short term debt would be restructured into a long term one.
All in all, El Salvador has a total $3.254 million in Euro-bond liabilities.
Source: laprensagrafica.com
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August 2009
The Eurobond issue in international markets will be executed no later than October 2009.
With this issue, the first since April 2006, the government intends to finance the Global Anti Crisis Plan and finance the State's budget.
Carlos Acevedo, president of the Central Bank, gave details about the issue to newspaper La Prensa Gráfica: "...
September 2009
Seven investment banks are competing to underwrite next month's issue.
BCR, the central bank of El Salvador, will announce the underwriter next month, while the bonds sale will begin in the second half of October.
Carlos Acevedo, president of BCR, commented: "There is high demand for Salvadoran debt. Investors are eager to purchase bonds from El Salvador; this is good news and a positive signal".
May 2009
The Salvadoran Congress approved a financial plan to meet debt payments.
The plan envisages the sale of $1.8 billion in global bonds and the reorientation of $950 million in World Bank and IDB loans to make payments on short-term debt.
With the bond sale, the country seeks to restructure its debt so that it depends more on the long rather than the short term.
December 2011
The highest percentage of external debt is with multilateral organizations; to the IADB alone $2,192 million are owed.
Of the total debt, 39% corresponds to the Inter-American Development Bank (IDB), 24% to the International Bank for Reconstruction and Development (IBRD), 19% to the Central American Bank for Economic Integration (BCIE), and the rest to others.
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