ASUNCION, March 17 Paraguay's treasury minister
and central bank president will meet with investors in the
United States and Europe next week to drum up interest in a
planned $500 million bond sale, the treasury ministry said in a
statement on Friday.
The meetings will take place next Monday and Tuesday, with
Treasury Minister Santiago Peña traveling to Boston and New York
and Central Bank President Carlos Fernández Valdovinos heading
up meetings in London.
The landlocked South American country's plan to issue bonds
to pay off existing debt and finance infrastructure projects ran
into roadblocks last year, when lawmakers challenged the
constitutionality of the planned sale. President Horacio Cartes
vetoed Congress' budget proposal, which limited debt issuance.
But the country's Supreme Court ruled in favor of Cartes'
center-right administration in February, which the treasury
ministry said at the time would serve as an assurance to
"Depending on financial market conditions and the interest
expressed by investors, at the end of these meetings we could go
through with the sovereign bond sale," the ministry said in the
Paraguay has sold $1.88 billion in sovereign debt since its
market debut in 2013.
(Reporting by Daniela Desantis; Writing by Luc Cohen; Editing
by Sandra Maler)