Government submits bill to authorize debt contracting for 2023

DOMINICAN REPUBLIC - In Brief 12 Dec 2022 by Magdalena Lizardo
The Executive Branch submitted to the National Congress a bill that authorizes it to contract the debt required to finance the 2023 public budget. The contract would be up to an amount of DOP363.3 b (USD6.58 b). The authorization contemplates the possibility of making the placement, partial or total, in 2022 if favorable conditions arise. If the bill is approved, the Ministry of Finance would be authorized to determine the composition of the placement of internal and external debt titles and securities, as well as to carry out liability management operations for up to 10% of the debt balance of the Non-Financial Public Sector. On December 8, the Executive Power promulgated Law 366-22 that establishes the budget for 2023, which contemplates a financial result for the Central Government of USD-3.76 b.

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