Paraguay’s incoming finance minister, Carlos Fernandez, wants to reduce the government’s dependence on dollar funding by making it easier for foreign investors to buy local currency bonds on the domestic debt market.
Paraguay is a regular issuer of global bonds, selling more than $6.5 billion since 2013, and domestic bonds denominated in the country’s currency, the guarani. Morgan Stanley’s Eaton Vance unit, through Brazil’s Itau Unibanco Holding SA, became the first foreign investor to purchase guarani bonds under new rules at a government debt auction in June.
“We need to issue more in guarani and we are going …
