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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