NewsWhore
06-16-2009, 04:30 PM
The American Chamber of Commerce (AmCham) has come out in favor of a new agreement between the Dominican government and the International Monetary Fund (IMF). AmCham believes the agreement would boost confidence among local as well as foreign investors. Chamber president Alejandro Pena Prieto said, "What we have to look for are what will be the conditions of such an accord if it were to come to fruition." During a breakfast meeting hosted by Multimedios del Caribe, Pena Prieto was accompanied by AmCham vice-president William Malamud and communications director Carol Croussett.
Pena Prieto said that looking at the projected numbers for year's end that forecast a 6.2% deficit in the balance of payments, the Dominican Republic might be eligible for some sort of deal with the multilateral organization, despite the fact that the government has said that it is not necessary under the current circumstances.
The American Chamber of Commerce executives went so far as to mention that with the announced intention of launching a US$1 billion sovereign bond issue, it would be most convenient to have an agreement of some sort with the IMF because of the confidence that this inspires.
Malamud also mentioned that any IMF agreement would have a positive effect on the country's risk levels in the financial markets.
More... (http://www.dr1.com/index.html#7)
Pena Prieto said that looking at the projected numbers for year's end that forecast a 6.2% deficit in the balance of payments, the Dominican Republic might be eligible for some sort of deal with the multilateral organization, despite the fact that the government has said that it is not necessary under the current circumstances.
The American Chamber of Commerce executives went so far as to mention that with the announced intention of launching a US$1 billion sovereign bond issue, it would be most convenient to have an agreement of some sort with the IMF because of the confidence that this inspires.
Malamud also mentioned that any IMF agreement would have a positive effect on the country's risk levels in the financial markets.
More... (http://www.dr1.com/index.html#7)