August 22, 2016 / 10:41 PM / a year ago

Colombia boosts local bond sales by $2.8 bln for this year

BOGOTA, Aug 22 (Reuters) - Colombia increased the amount it will issue in domestic debt by 8 trillion pesos ($2.8 billion) to fund this year’s budget, according to a finance ministry decree published on Monday.

The additional amount takes local peso-denominated Treasury bonds, or TES, to 39 trillion pesos.

The decree did not provide further details and the finance ministry did not immediately respond to questions.

Colombia has faced a shortfall in revenue after income dropped as a result of lower international oil prices. The government plans to send a tax reform to congress this year to raise extra money to fund spending. (Reporting by Nelson Bocanegra; Editing by Sandra Maler)

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