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Apr 28, 2004

Cabinet Okays U.S. $225 million bond issue

In news from Cabinet, that body has confirmed that government will introduce legislation in the House on Friday to facilitate a two hundred and twenty-five million U.S. dollar bond issue to be placed on the U.S. and European market. Proceeds from the fifteen year issue will be used to refinance portions of government’s short-term high-interest debt. According to Belmopan, the move has the support of the I.M.F. and will result in savings of over sixty-two million U.S. dollars over the next eight years.

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