The government explained the debt quota law

During his intervention in the Congressthe head of the Treasury portfolio specified that the quota that the Government wants to acquire amounts to 17,607 million USD. However, he stated that the country has $2,180 million as of April but clarified that $3,546 million is due this year, leaving a deficit of Foreign currency of $1,366 million.

“The request to increase the debt quota is the result of the emergency regulations applied due to the pandemic of the COVID-19, whose credit implications are not included in the current quota. Therefore, this bill aims to guarantee the normal development of credit and cover all the country’s obligations,” the minister said Finance Minister Ricardo Bonilla.

In this sense, he reiterated that the requested quota is not intended to “increase the EU’s debts”. Nation“, but to meet the financial obligations already acquired.

Source: El heraldo