Economists They consider routine the emission of bonds of the debt In international markets carried out by the Ministry of Tax authoritieswhich will expand the deadlines of the country’s commitments.
Antonio Ciriaco Cruz, dean of the Faculty of Economic and Social Sciences of the Autonomous University of Santo Domingo (UASD), positively valued the operation In the short and medium term, considering that it improves the profile of the debt public and reduce the risk exchange.
“While the problem of the debt stock does not solve, the repurchase of expiration bonds in 2026 allows to extend the deadlines and interest payments, strengthening the country’s financial profile and relief Public Finance“He explained.
He added that the process reduces the risk exchange of the portfolio of debt Dominican and decreases the risk refinancing. In addition, he said that it relieves the pressure on the Public Finance In the short term.
While, Miguel Collado Di Franco, Executive Vice President of the Regional Center for Sustainable Economic Strategies (CREES), stressed that this strategy It has already been implemented on other occasions. “Basically, it is about differing or postponing the debt which won in 2026 for a future date through the emission of new bonds. This allows to cover tax obligations in 2025 and attend the fiscal deficit, “he said.
According to Collado Di Franco, from the authorized amount of more than 5,000 million dollars, They issued 2,500 million to finance next year commitments for the deficit. “It is a scheme that has been repeated in previous years,” he added.
With this emission of bonds, the Government Dominican seeks to guarantee stability Fiscal while maintaining economic growth and investment in priority sectors that generate employment and energize the national economy, according to official explanations.
Tax authorities Explain the impact of the operation
The Minister of Tax authoritiesJosé Manuel (Jochi) Vicente, highlighted the operation as historical after placing 125,000 million pesos in the market of debt.
“This operation became the greatest emission in pesos Dominicans and in the largest orders book in the history of the country, reaching the equivalent of 2,000 million dollars with an overdemand of more than 2.25 times, “he said.
He Governmentthrough the Ministry of Tax authoritiesannounced the operation of liabilities by the repurchase Voluntary bonds expiring in 2026, for a nominal value of 2,382 million dollars. In addition, in parallel, the Government He made one emission of debt To finance both the repurchase of bonds such as 2.5 billion dollars allocated to the General State Budget of 2025.
This emission It was structured in three Sections:
- First section: 2,000 million dollars in a global bonus with expiration in 2037 and a coupon of 6.95 %.
- Second section: 1,000 million dollars in a global bonus with expiration in 2055 and a coupon of 7.15 %.
- Third section: 125,000 million pesos Dominicans in an indexed bonus to the local currency, expiring in 2037 and a coupon 10.50 %.
The minister indicated that through repurchase Volunteer of bonds that were in expiration for 2026, entities may finance projects essential in infrastructure, education and health without compromising stability Country Prosecutor.
Vicente stressed that the emission of bond is a common practice in economies in growth and that the Dominican Republic maintains responsible management of its financial commitments.
