Sergio Edeza, the country's National Treasurer says that as a result of economic uncertainties in the US, the Republic is looking to fund its budget deficit in currencies other than just US dollars.
In view of what has been happening in the US recently, we're looking at doing deals in other currencies, he states. We've received proposals from three institutions, but everything is still in the initial stages. We haven't chosen the bank, how much the deal would be for, or how much interest would be paid. We are currently focusing on issuing in Japan, but we will decide whether to proceed with a Singapore dollar deal by the third week...
