NewsWhore
08-14-2008, 03:50 PM
Edwin Ruiz of Clave newspaper writes today about the contradiction between the millions invested in the "electronic government" of President Fernandez and the backlog in publishing economic statistics. He makes the point that the Budget Department (Digepres) has a freedom of information access department but this is not yet operating, four years after this was ordered in Law 2000-04 on Citizens' Right to Freedom of Information. He points out that the government has not published the monthly budget execution reports since February. And the information on government spending is only available up to April 2008, when this information was readily available when the country was under the International Monetary Fund's stand by arrangement. He comments that the muteness of the financial authorities has the country in the dark as to what is the true fiscal deficit for this year. Ruiz establishes that Dominican Law 423-06 (J section) orders the publishing of the information 30 days after the completion of the budget period. Another law that he says has not been fulfilled is Law 5-07 that created the Integrated Financial Administration System (SIEFE) 5-07 that orders the government to make available information on budgetary execution in a clear, uniform and transparent way.
Economist Miguel Ceara-Hatton of the United Nations Human Development Office estimates the deficit of the central government at RD$52.7 billion during 2008, to which the quasi-fiscal deficit (of the Central Bank) would have to be added bringing this to RD$75 billion. Ceara-Hatton recalls that the government on several occasions has said that the public finances are balanced.
Clave newspaper says that the lack of transparency has spread to the Central Bank. As of 12 August, the Central Bank had only published a report for the first quarter of 2008 and the definitive for 2007. The Central Bank website indicates that the updates would be available at most 45 days after the period expired.
More... (http://www.dr1.com/index.html#3)
Economist Miguel Ceara-Hatton of the United Nations Human Development Office estimates the deficit of the central government at RD$52.7 billion during 2008, to which the quasi-fiscal deficit (of the Central Bank) would have to be added bringing this to RD$75 billion. Ceara-Hatton recalls that the government on several occasions has said that the public finances are balanced.
Clave newspaper says that the lack of transparency has spread to the Central Bank. As of 12 August, the Central Bank had only published a report for the first quarter of 2008 and the definitive for 2007. The Central Bank website indicates that the updates would be available at most 45 days after the period expired.
More... (http://www.dr1.com/index.html#3)