Santo Domingo. -The Chamber of Deputies on Tuesday approved a US$1.0 billion bond and a government debt by more than RD$45.0 billion (US$1.1 billion), 95 votes for and 18 against.
Both initiatives say the bonds will be placed in the local market through auctions, including local and foreign investors, with direct bank loans obtained in the financial system.
Ruling PLD party deputies spokesman Gustavo Sanchez, and finance committee chair Marino Collante asked the full floor to expedite the procedures, for which the lower Chamber fast-tracked the approval.
The Senate had approved the bills submitted by the executive branch last week and aim to finance the deficit of the 2013 public debt.