NewsWhore
05-28-2009, 03:30 PM
Planning & Economy Minister Temistocles Montas is a firm believer in the need to sign an agreement with the International Monetary Fund. He said that this was a requirement of both the Inter-American Development Bank (IDB) and the World Bank. He said that President Leonel Fernandez would have the last word.
Upon the signing of a stand by agreement, the DR would be eligible to receive US$1 billion from both multilateral organizations that would serve to tide the government over its present deficit.
Montas made his comments following a meeting with experts from the Central Bank and the Superintendent of Banks and with members of the permanent commissions in the Chamber of Deputies for Budgets, Finance and Industry, and Chamber of Accounts, to study the financial and monetary aspects of 13 articles contained in the Constitution bill sent by the President to Congress.
According to Montas, the approval of these articles as they were sent to the Constitutional Revisory Assembly would tie the hands of the state in attracting international financing.
After pointing out that the National Budget is income, expenses but also about financing, Montas said that Congress should guarantee measures that prevent the country from falling into public debt, but without closing the doors on financing which would be limited if some of the articles he mentioned were passed in their existing format.
More... (http://www.dr1.com/index.html#2)
Upon the signing of a stand by agreement, the DR would be eligible to receive US$1 billion from both multilateral organizations that would serve to tide the government over its present deficit.
Montas made his comments following a meeting with experts from the Central Bank and the Superintendent of Banks and with members of the permanent commissions in the Chamber of Deputies for Budgets, Finance and Industry, and Chamber of Accounts, to study the financial and monetary aspects of 13 articles contained in the Constitution bill sent by the President to Congress.
According to Montas, the approval of these articles as they were sent to the Constitutional Revisory Assembly would tie the hands of the state in attracting international financing.
After pointing out that the National Budget is income, expenses but also about financing, Montas said that Congress should guarantee measures that prevent the country from falling into public debt, but without closing the doors on financing which would be limited if some of the articles he mentioned were passed in their existing format.
More... (http://www.dr1.com/index.html#2)