Cape Verde issues domestic debt worth US$34.2 million in 2013

2 April 2013

The Cape Verdean government plans this year to issue domestic debt worth 3 billion escudos (US$34.2 million) to partially fund its 2013 State Budget, the director-general for the Treasury, Esana Carvalho said.

Cited by radio station Rádio de Cabo Verde, Carvalho said that until the end of the year public debt securities and bonds would be issued, as part of a process in which the Cape Verde Stock Exchange would have a central role.

The securities and bonds will have a variety of maturities, as well as a variety of interest rates, Carvalho said at a session held Mondat in Praia to present the financial platform to allow direct access to treasury bonds.

“The debt market has been remodelled in order to meet these challenges and, (…) the financial platform has been developed to allow direct access to Treasury bonds, by potential national or foreign investors,” a Finance Ministry statement said.

Finance Minister Cristina Duarte noted that the new financial platform was part of set of eight proposals to reform financial management of the State, which began three years ago and included the creation, in 2012, of the Treasury Bank and the launch of the System for Supervision and Evaluation of Public Debt. (macauhub)