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Colombia Switched $641 Million in Resident Public Financial Obligation Last Month|Investing News


May 5, 2022
tagreuters.com2022newsml LYNXNPEI440UD12022 05 05T161632Z 1 LYNXNPEI440UD RTROPTP 3 COLOMBIA ECONOMY

BOGOTA (Reuters) – Colombia switched internal public financial obligation worth 2.6 trillion pesos ($ 641 million) in April, the 2nd such operation this year and part of an effort to lower amortizations and enhance the nation’s financial obligation profile, its financing ministry stated on Thursday.

In the most recent operation, the ministry traded TES securities coming due in 2023 for others connected to inflation which come due in 2035 and 2037 and peso-denominated paper coming due in 2042.

” The deals happened at market value and add to an enhancement in the profile of Colombia’s internal public financial obligation,” the ministry stated in a declaration. “In specific, the typical life (of paper) was extended from 8.97 years to 9.08 years, while the typical voucher fell from 9.10% to 9.08%.”

The swap did not increase the net insolvency of the South American nation, it included. TES paper is the 2nd crucial funding source for Colombia’s federal government after tax earnings.

The federal government switched 2.3 trillion pesos worth of paper in March and approximates its net public financial obligation will close the year at 62.7% of gdp.

($ 1 = 4,056.41 Colombian pesos)

( Reporting by Nelson Bocanegra; Composing by Julia Symmes Cobb; Modifying by Paul Simao)

Copyright 2022 Thomson Reuters

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