Government foresees 22 credit sources to fund budget of 2015

The Finance Minister, Fausto Herrera, said yesterday that the government currently has identified 22 sources of financing, which will settle the requirement of the country for 2015, which is of $ 8,806.8 million.

The government expects to get about $ 7,200 billion in foreign debt. The largest item will come from “friendly governments,” by $ 3.522 million, said Herrera.

He also noted that financial resources for $ 1.869 million could come to the country from the private sector. The Minister said that the country has open credit lines with the largest private banks in the world.

Neither a new bond is discarded and funds from multilateral agencies for $ 1.807 million may be received.

Herrera said that the total debt could reach in 2015 an amount of 30% to 30.5% of the GDP, which is the highest since 2006, but it does not reach the debt ceiling allowed by the Constitution which is 40% .