«It is not a sovereign bond, it is a bond whose resources will go, specifically, to the private sector,» announced the Minister of Finance.
The Minister of Economy and Finance, Mauricio Pozo, announced this Thursday, November 19, that the country will issue a bond in the international market, in the coming months, to obtain resources for the private sector. It would be the issuance of a bond and a credit package to raise around USD 3.000 million.
Pozo indicated that, for the moment, he is talking with multilateral organizations to obtain the necessary support to crystallize this initiative. In addition, he stated that this financing will serve as an instrument for the reactivation of economic sectors hit by the pandemic.
In this sense, he assured that these resources will be organized through the public bank to all productive activities that have been hit by the economic crisis.
“It is not a sovereign bond, it is a bond whose resources will go, specifically, to the private sector. There are sensitive sectors such as commercial, entertainment, agribusiness and agriculture ”.
On the other hand, the Minister of Finance assured that the Reactívate Ecuador program did not work as planned. The program was going to provide USD 1.15 billion in loans to companies, but it was only USD 500 million.