 Email Article |
 Email Us |
 Print friendly |
 |
 |
 |
 |
 |
 |
 |
Colombian economy
Colombia to start debt conversion with World Bank
By Ontheweb Friday, May 9, 2008BOGOTA (Reuters) - Colombian operations to convert foreign currency debt into pesos will start with up to $2 billion in World Bank obligations, the government said on Wednesday.
The finance ministry announced on Tuesday that it plans to eventually convert all of its $20 billion in foreign currency obligations into pesos through a series of hedge-type operations.
The first step will involve money owed to the International Bank of Reconstruction and Development, which is the arm of the World Bank that lends to middle income and emerging economies. (Reporting by Javier Mozzo; Editing by Diane Craft)
