Inter-American Development Bank
The Inter-American Development Bank sold at par, outside of the United States, an issue of short-term dollar bonds totaling $70 million.
The issue will consist of one- and two- year bonds due on April 15, 1987, and April 15, 1988, bearing an interest rate of 7.56 percent and 7.79 percent per annum, respectively.
The proceeds of the issue will be used to roll over short-term bonds maturing April 15, 1986. The issue was sold to central banks and other governmental agencies in 20 of the bank's member countries.
The Inter-American Development Bank, established in 1959, is an international institution founded to help accelerate the process of economic and social development of its member countries in Latin America.
*Asian Development Bank
Developing member countries of the Asian Development Bank, a 47-member financial institution based in Manila, will benefit in 1986 if the expected improvement in the world economy leads to increased international trade, according to the ADB annual report.
The report states that the recent decline in oil prices will ease the balance-of-payment pressures on oil-importing nations although it will constrain investment and growth in oil-exporting countries.
Developing member countries can expect an improved climate for investment and growth due to the fiscal and monetary adjustments that are being made; the deceleration of inflation, and their willingness to adopt policy reforms that will lead to flexible pricing of goods and services, the report said.
In 1985, the ADB's lending commitments totaled $1.9 billion, a 14 percent drop from the previous year. ADB attributes this to a worldwide decrease in economic growth, domestic resource constraints and measures taken by developing member countries.
The admission of the People's Republic of China and Spain as members of the ADB became effective in March, increasing the bank's operational area to 2.5 billion people.