Industrialist reveals financing not there

[NewsWhore]

The president of the Dominican Republic Industrial Association (AIRD), Manuel Diez Cabral, revealed yesterday that financing from commercial banks is not flowing into the private sector. El Nuevo Diario reports that after saying that this situation is not a lack of liquidity on the part of the banks, the business leader attributed the problem to a lack of guarantees and conditions on the part of clients of the national productive sector that need to access credit and financing. "The problem is not whether or not there money, the problem is how this productive sector qualifies to access this financing," pointed out Diez Cabral. The business leader went on to warn of the risk that is being taken by the fact that the government financing the deficit of the current accounts with capital from the Central Bank and with investments, and suggests that the authorities take decisive measures to resolve the growing deficit of the current accounts. The AIRD president attributed the deficit of the current accounts to the growth in imports and the reduction in exports, "this year the projection of the deficit is for between 6 or 7%, which are really miraculous numbers given that there is still macro-economic stability with this deficit in the current accounts." He lamented the fact that the deficit in the current accounts has become an unmanageable issue, "and we are losing this race, then these are the decisions that we have to take in order to send the right signals."

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