CAF on Stand-By to Reopen Markets

CAF is ready to reopen debt markets for LatAm borrowers when the markets recover, but it remains liquid following prefunding. The high grade multilateral is typically one of the first to blaze a trail back to credit markets when they shut. “We hope that this time again we will play that role. Of course we don’t intend to go to market this week,” CAF president Enrique Garcia tells LatinFinance. “We have very sound liquidity, but we are opportunistic. We hope that, like we did in previous crises, we will go to market as a signal of confidence and trust to try to reopen it for the region.” Garcia adds that the local currency issuance plan is not dead, and that a Venezuela or Colombia issue could eventually come. “This week we have to concentrate on what the real impact is and how we can respond.”