NewsWhore
07-29-2011, 04:30 PM
The Central Bank of the Dominican Republic said yesterday it has received US$500 million of the sovereign bonds placed in the capital markets on 21 July.
The sovereign bonds were placed at 10 years with an annual yield of 6.95% by a Ministry of Hacienda mission. The Central Bank highlighted that the rate was lower compared to the previous sovereign bond issue, indicating a greater confidence among international investors about the Dominican economy.
When the US$348.1 disbursed by the International Monetary Fund on 19 July is added, the Central Bank has received a total of US$848.1 million in July.
Central Bank Governor Hector Valdez Albizu said that the government expects to receive another US$600 million from the World Bank, the Inter-American Development Bank (IDB) and the International Monetary Fund (IMF) before the end of the year for a total US$1.45 billion. Valdez said the resources would strengthen the Central Bank's international reserves and cover the government's budget deficit.
"That money will guarantee the relative stability of the exchange rate, thus helping to maintain the smooth functioning of the Dominican economy," he said in a statement.
More... (http://www.dr1.com/index.html#2)
The sovereign bonds were placed at 10 years with an annual yield of 6.95% by a Ministry of Hacienda mission. The Central Bank highlighted that the rate was lower compared to the previous sovereign bond issue, indicating a greater confidence among international investors about the Dominican economy.
When the US$348.1 disbursed by the International Monetary Fund on 19 July is added, the Central Bank has received a total of US$848.1 million in July.
Central Bank Governor Hector Valdez Albizu said that the government expects to receive another US$600 million from the World Bank, the Inter-American Development Bank (IDB) and the International Monetary Fund (IMF) before the end of the year for a total US$1.45 billion. Valdez said the resources would strengthen the Central Bank's international reserves and cover the government's budget deficit.
"That money will guarantee the relative stability of the exchange rate, thus helping to maintain the smooth functioning of the Dominican economy," he said in a statement.
More... (http://www.dr1.com/index.html#2)