El Salvador to Issue $550 million

The government and the opposition have agreed to approve in the first instance an issue of $550 million, not $1.2 billion as claimed by the administration of Sanchez Ceren.
Although the government insists that there is a need is to issue $1.2 billion to cover short - term debts and solve the liquidity problem it is facing, this first agreement to issue $550 million will serve to "... pay for the electricity subsidy for FODES and the mayoral districts."

"... 'It will be the $550 million that has been practically arranged, has been negotiated and that's what we're going to sign and we, the bench of the FMLN, we are ready for that. Everyone knows the complicated situation for the government of El Salvador because of the problem of the fiscal deficit," said Medardo González."

The president of the opposition party, ARENA, Mauricio Interiano, told Elsalvador.com that "... 'The root of the problem is the fiscal deficit which has ruled the country for all these years, that's what you have to start to resolve, but right now we are focused on taking this first step and from there we will continue to work towards moving forward'."

Source: centralamericadata.com