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[QUOTE="Shamiso, post: 83797, member: 160"]
Trinidad just maxed out the national credit card to chase development goals. The government intends to grab one billion American dollars from foreign investors to pay off old bills and fund new projects. Finance Minister Davendranath Tancoo signed an order ensuring these repayments avoid all taxes and exchange controls. This move sweetens the deal significantly for anyone purchasing the debt.

J.P. Morgan Securities LLC and Bank of America Securities Inc. will run the show as joint managers. They plan to sell these notes exclusively to qualified institutional buyers inside the United States under specific regulations. Investors located elsewhere can also participate through different legal channels.

The administration hopes that securing capital through this method provides necessary cash without triggering local financial restrictions. Selling debt instruments on the international market apparently beats trying to find money at home. It seems they prefer owing cash to global giants rather than dealing with domestic budget constraints.
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