Guarantee for a new loan for US$400 million, despite the fact that the State has resources

The government of President Alejandro Giammattei will continue with the policy of public debt two years after the end of his term, so one week after the Executive presented a National Emergency Plan in the face of the global situation, the Ministry of Public Finance (Minfin ) submitted a loan request for US$400 million with an international financial organization.

The operation is called "contingent loan" to meet the requirements related to the conflict between Russia and Ukraine, the rise in world inflation, especially food and oil derivatives, and the agent will be with the Inter-American Development Bank (IDB) .

Now, the file will go to the Finance Commission of Congress, for its opinion, and then it will be known in plenary session, since since it is a sovereign indebtedness, it must be known.

The operation is called "contingent loan" to meet the requirements related to the conflict between Russia and Ukraine, the rise in world inflation, especially food and oil derivatives, and the agent will be with the Inter-American Development Bank (IDB) .

Now, the file will go to the Finance Commission of Congress, for its opinion, and then it will be known in plenary session, since since it is a sovereign indebtedness, it must be known.

The official bench in alliance with other parliamentary blocs approved on May 18 a loan for US$500 million with the International Bank for Reconstruction and Development (IBRD), which is within the debt contracting quota that the Legislature endorsed with the approval of the budget 2022.