NewsWhore
06-03-2009, 03:40 PM
International Monetary Fund (IMF) mission chief in the Dominican Republic Alejandro Santos predicts that the DR economy will grow by 0.5% this year.
He said that talks are continuing on the possibility of the government signing a Precautionary Stand-by Arrangement with the IMF. Such an agreement would involve indicative targets rather than structural performance criteria.
Santos said that the DR would have access to a flexible line of credit that could be used to resolve its balance of payment problems, under such an agreement. He confirmed that the Dominican government has the prerogative of requesting US$1 billion under those terms from the IMF.
Santos made his statements during yesterday's "Economic Prospects for Latin America," conference, which was sponsored by the Central Bank.
During the event, Central Bank Governor Valdez Albizu said that the Dominican economy grew by 1% during the first four months of 2009 and that the accumulated inflation rate during the last five months was only 1%. He says the government's goal is to achieve 3% growth, as reported in El Caribe.
More... (http://www.dr1.com/index.html#1)
He said that talks are continuing on the possibility of the government signing a Precautionary Stand-by Arrangement with the IMF. Such an agreement would involve indicative targets rather than structural performance criteria.
Santos said that the DR would have access to a flexible line of credit that could be used to resolve its balance of payment problems, under such an agreement. He confirmed that the Dominican government has the prerogative of requesting US$1 billion under those terms from the IMF.
Santos made his statements during yesterday's "Economic Prospects for Latin America," conference, which was sponsored by the Central Bank.
During the event, Central Bank Governor Valdez Albizu said that the Dominican economy grew by 1% during the first four months of 2009 and that the accumulated inflation rate during the last five months was only 1%. He says the government's goal is to achieve 3% growth, as reported in El Caribe.
More... (http://www.dr1.com/index.html#1)