National debt reaches US$9 billion plus

[NewsWhore]

Over the last three and a half years, the national debt has grown by 23.75%, going from US$7.377 billion in 2004 to US$9.129 billion in June 2008, an increase of US$1.752 billion. According to data obtained by El Caribe from the Ministry of Hacienda website, the total amount of US$9.129 billion is divided between external debt (US$7.929 billion) and internal debt (US$1.200 billion). During the period covered by the analysis, the Dominican Republic's external (foreign) debt has gone up from US$6.379 billion to US$7.929 billion, a 24% increase. The internal public debt has gone from US$998 million to US$1.2 billion, a 20% increase. According to the data from the Ministry of Hacienda, bilateral debts have gone from US$2.132 billion to US$3.360 billion, a 57% jump. The total multilateral debt has increased by 24% and private debts have risen just 8%. Among the multilateral lenders is the Inter-American Development Bank which has poured the largest amount of money into the DR, but which showed a slight reduction (US$1.343 vs. US$1.342 billion). On the other hand, the debt with the World Bank has gone from US$380 million to US$462 million, a 21% increase, and the credits with the International Monetary Fund have gone from US$203 million to US$622 million, a 326% increase.

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