IMF to monitor DR

[NewsWhore]

As soon as Leonel Fernandez begins his third term as President of the Dominican Republic, the country will sign a "monitoring" agreement with the International Monetary Fund (IMF). According to Diario Libre, the agreement will not entail the disbursement of funds, nor will it involve a revision of the goals as set out in the Stand-by Arrangement that ended last January. At least, according to the newspaper, this is what was released to the press after a three-hour meeting held between President Fernandez and IMF officials at the Presidential Palace yesterday. The IMF delegation was headed by top IMF official Murilo Portugal, and the President was assisted by his economic cabinet. According to the press, the monitoring involves a twice-yearly submission to the IMF on the government's execution of its economic programs. Chief economic advisor and Economy, Planning and Development Minister Temistocles Montas told reporters that this agreement would help the DR maintain its "close ties with the IMF".

More... (http://www.dr1.com/index.html#1)