Economy May 12, 2020 | 7:16 am

Dominican Republic issues US$727.3M of debt

Santo Domingo.- The Finance Ministry on Monday announced a special issue of internal debt of RD$40 billion (US$727.3 million) to deal with the pandemic.

The bonds were purchased by four pension fund managers, Finance said in a statement.

The securities, called COVID-19 economic stimulus emergency bonds, were purchased in equal parts by AFP Crecer, Popular, Reservas and Siembra.

The investment in the bonds, made in coordination with Dominican Republic’s Central Bank, will be used for economic reactivation, the development of infrastructure projects and social programs.