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Paraguay to tap “all funding sources”, says Cartes 0

Jul 16, 2014

Paraguay's president, Horacio Cartes
Paraguay is looking to "all sources of financing" in a bid to bring in $16bn of investment over the next four years, President Horacio Cartes has told LatinFinance in an interview

The country is looking for investment funding from international loans, tax, public-private partnerships, and the bond market, Cartes said. 

"We will need all sources of financing: tax, PPP and international loans. We need to increase the investment rate from 18% of GDP to 25% with $16bn of investment by 2018," he said. 

The country is looking to sell a bond of around $650m, Cartes said, adding he thought the country could find better terms than its last bond sale, a 4.625% $500m deal sold in January 2013: "The last bond was for 10 years. I am pretty sure we can have a tranche of 10 years and a tranche of 30 years." 

In a separate interview, finance minister Germán Rojas said Paraguay was set to increase external debt from 14%, to 25%, partly through bond issuance, and partly by taking more loans from multilaterals institutions like the Inter-American Development Bank.

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