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Finance Ministry Raises Debt Plan By ~$1 Billion

CHILE
  • As had been expected by some analysts, the Ministry of Finance has raised Chile’s issuance plan by roughly USD1bn this year. Hacienda published a revised decree in the Official Gazette that raises the total gross debt to be issued in 2023 from USD15bn to up to the equivalent of USD15.95bn.
    • Itaú have noted that “while a press release has not been issued yet, they expect the MoF to issue more local currency debt in international markets, in which offshore demand is paid in dollars.”
    • “Higher financing needs are explained mainly by revenue underperformance this year.”
  • Link to the release is here: https://www.diariooficial.interior.gob.cl/publicaciones/2023/09/12/43651/01/2375637.pdf

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