THE INTER-American Development Bank sought to develop a greater following among US investors this week when it launched a $1bn global bond via JP Morgan and Morgan Stanley Dean Witter. The issue was aimed at providing a platform for the IDB's expanded borrowing programme over the next two years. Largely prompted by the need to contribute to recovery programmes for Latin American countries hit by the financial crisis, the IDB expects to increase borrowing in 1999 to $9bn, from a planned $4bn.
November 13, 1998