Lawmakers to issue US$3 billion in international bonds

Lawmakers have authorized the Government to issue US$3 billion in international bonds to restructure the nation's debts from the 2015-2016 period.

The funding came as part of a resolution approved by a majority of National Assembly deputies on November 11. The resolution also includes budget estimates and salary increases for next year.

Further, the lawmakers agreed to diversify the terms of bonds issued over two years from three years to less than five years, of which the volume of bonds will not exceed 30 per cent, while the remaining 70 per cent will be set aside for five-year bonds.

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