Economists call for IMF agreement

[NewsWhore]

Three economists from the Intec, Apec and the UASD universities, are saying that the Dominican Republic needs to sign a new Stand-by agreement with the IMF in order to confront the effects of the world economic crisis. The economists, Favricio Gomez of Intec, Melvin Perez of the UASD and Carlos Cuello of Apec share the view that an agreement with the International Monetary Fund (IMF) would send a positive signal to investors and improve the country's risk rating. Speaking to reporters during Listin Diario's breakfast meeting with economic editors, the economists also feel that an agreement with the IMF would give the perception that measures were being taken to stabilize the economy. The economists described an agreement with the IMF as a parachute to help the DR survive the difficult times ahead. They pointed out that the IMF has US$200 billion available to help economies that are affected by the crisis. They argued that since the Dominican Republic has just finished going through a successful agreement with the IMF, this would permit a gradual series of adjustments to face up to the impact of the global situation.

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