Chile's central bank says it will not issue new bonds in 2017

SANTIAGO: Chile's central bank said on Wednesday it has no plans to issue new bonds in 2017, choosing instead to issue promissory notes to partially "absorb" maturing debt in order to manage liquidity in the local market.

The bank said 1.7 trillion pesos ($2.53 billion) of debt is due to mature this year, of which 950 billion pesos ($1.41 billion) will be absorbed by central bank notes, known as PDBCs in Spanish.

The PDBCs "have the purpose of appropriately managing liquidity in the local market," the central bank said in a press release.

It added that its debt issuance schedule was subject to change as market conditions evolve.