* The Honduran 128-member unicameral national legislature has approved a motion authorising the finance ministry to issue US$850m worth of sovereign bonds in international capital markets. Minister for the presidency,
Ebal Díaz, told reporters that of the amount approved, US$600m would go towards paying off bonds due to expire in 2021, and the rest would be used for the emergency stemming from the coronavirus (Covid-19) pandemic, which is expected to result in Honduras’s GDP contracting by 6.1% in 2020, as per the latest forecast from the United Nations Economic Commission for Latin America and the Caribbean (Eclac). Díaz did not provide further details regarding the terms of the issuance. In June, the Honduran government issued US$600m worth of sovereign bonds, the proceeds of which were used to refinance debt obligations of state-owned electricity company (ENEE).
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