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Colombia to sell up to $3.5 billion in debt in 2007

Written by: Staff

BOGOTA, Colombia, Nov 23 (Reuters) Colombia has permission to sell up to $3.5 billion in dollar- and peso-denominated global bonds in 2007, the country's Public Credit Director Julio Torres told reporters on Thursday.

The bonds will be used for next year's spending and to start pre-financing 2008, he said. They will be sold in the place of local paper as the Andean country tries to diversify its debt profile.

The limit was set by the National Political Economy and Social Council, which is made up of government ministers and the state Planning Department.

This year, Colombia has sold $2.0 billion in global bonds to help pre-finance 2007.

Reuters SBA VP0340

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