Debt figures 'incorrect'

[NewsWhore]

Hacienda Minister Vicente Bengoa says the DR's debt is not US$9.129 billion as reported in El Caribe yesterday. Bengoa said the DR's debt is now lower than it was ten years ago. He said that while the nation owes more in absolute terms, the debt was lower in terms of percentage points. "If you take the GDP and the debt and compare them you will see that we have reduced the debt by 15%". However, these comments were not backed up by any figures. Yesterday's reports claimed that the national debt has grown by 23.75% over the last three and a half years, 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). Bengoa says that Leonel Fernandez's administration has a good record when it comes to paying its external debt.

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