Costa Rica Seeks to Calm Investor Fears With Overseas Bond Sale
- President ‘certain’ of $1.5 billion and will push for more
- Country’s dollar bonds are among top EM performers this year
Carlos Alvarado
Photographer: Marco Valle/Bloomberg
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Costa Rica’s government says it is close to getting the green light to return to global credit markets and bolster investor confidence after a sell-off in the nation’s bonds and currency last year.
President Carlos Alvarado said he expects to get approval from congress as soon as June to sell $1.5 billion of debt overseas. The government will issue the bonds as soon as it can after that, and will ask for an additional $1.5 billion to be issued later, Alvarado said.