Gov. says it reduced debt service by US$1.1B

Santo Domingo.- “The Dominican Government, through the Ministry of Finance, carried out a bond liability management operation in US dollars with which it says it achieved a reduction in debt service of US$ 1,100 million for the period 2022- 2024.

In a press release they state that, at the same time, a sovereign bond issue was made for US$3,564 million in the international market, of which US$1,264 million were allocated to the liability management operation and the rest, US$2,300 million, will be to cover part of the external financing foreseen in the 2022 General State Budget.

They detail that, of the US$1,100 million reduction in debt service for the next three years achieved with the liability management operation, US$190.3 million correspond to the year 2022. Similarly, this operation reduces the cost of debt in three basis points and increases the average maturity of dollar bonds by 0.3 years.