Authorities from both countries agreed to work on the unification of their stock markets, starting with the issuance of a quota of Guatemalan subsidized debt directed to Salvadoran investors.
Representatives of the Guatemala
n Ministry of Finance and the Ministry of Finance of El Salvador informed that before the end of this fiscal year, the Guatemalan subsidized debt will be approximately $13 million.
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Guatemalan Finance Minister Víctor Manuel Martínez
told Prensalibre.com that "... with El Salvador (Ministry of Finance) the issuance of public debt in dollars will be executed in order to attract Salvadoran investors and that the quota is being designed to be able to exit the market. The minimum amount of the tender to carry out will be Q100 million ($12.9 million), to be able to have a regional integration with El Salvador.
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Nelson Fuentes, El Salvador's finance minister, explained that "... they have been working with Guatemala and the regional market, and that one of the objectives is for investors to be able to buy both Salvadoran and Guatemalan debt. This initiative is working with the support of the central banks of each country, as well as the requirements to make full quotas (issuance)
It was specified that any Salvadoran capitalist with investment funds that are certified or of the local financial system and that are registered in the Stock Exchange of El Salvador, will be able to acquire short-term debt
and that could lower the interest rates in both countries.
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