Deputies approve US$244.3M bond to boost 2016 budget

Santo Domingo.- TheChamber of Deputies on Tuesday declared the legislation urgent to approve abill authorizing the Finance Ministry to issue a bond of RD$114.5 billion (US$244.3million).

The initiative was passedafter the Bicameral Finance Commission issued a favorable report.

The legislation willnow go to president Danilo Medina who is expected to sign into law.

Section four of the Actsays the Finance Ministry will determine the type of placement for the bond amountin the securities market, and the funds will be used as part of the 2016 budget.