Colombia’s government has proposed increasing the amount of so-called TES treasury bonds it issues in 2020 by 7 trillion pesos ($2.12 billion), in a bid to raise funds to pay healthcare debts.
The proposal, made public on Wednesday, is included in a $84 billion budget plan sent by the government to Congress this week.
If approved, the proposal would increase the total TES paper set to be issued next year to 37.1 trillion pesos.
The budget is expected to be debated over the next several months. It must be approved by Oct. 20 and would be a 9.16% increase on the budget approved for this year ($1 = 3,296.85 Colombian pesos).