Republic of Colombia
Issuance in local currency is a major theme in the Latin American borrowers’ awards this year. Pemex, GMAC Financiera and even supranational borrower of the year the Inter-American Development Bank all came to market with ground-breaking and innovative deals in local Latin currencies. But one borrower deserves to be singled out as being at the forefront of this particular trend, the Republic of Colombia.
Colombia was not the first sovereign to play the local-currency game – that was Uruguay.
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