Panama Will Sell $600 Million in Local Bonds

(Panama-Guide) - Source: La Prensa - Ricardo Martinelli's Executive Cabinet Council authorized yesterday the issuance of local Treasury Notes worth up to $600 million dollars, which will be sold through the local market. The money raised by the sale of these bonds - which will be requested as required - will be used to repay debt and to finance part of the fiscal deficit - for projects or operating costs - already budgeted for this year, which is $502 million dollars, said Dulcidio de la Guardia, the Vice Minister of Finance.