NewsWhore
09-18-2009, 02:20 PM
Today sees the end of the two-week visit by the International Monetary Fund (IMF) mission to the country. Hacienda Minister Vicente Bengoa said that the draft of the letter of intent and the agreements include a disbursement of US$990 million this year, of which US$690 million are in the budget.
Bengoa said that the US$990 million would be received after the IMF agreement was signed. He said of these, US$300 million would be from the World Bank, US$390 million from the Inter-American Development Bank (IDB) and US300 million from the IMF.
Bengoa said that a further US$150 million would be received from the IMF next year.
The letter also establishes that in 2010 the government will place US$1 billion in sovereign bonds. The agreement will not include new taxes. The government does have plans to review tax incentives that are in place.
The government announced that it would send a bill requesting transfer of funds between government departments.
Bengoa said that although the government has a fiscal problem, the IMF mission has stated the performance of the Dominican economy is one of the best in the region.
More... (http://www.dr1.com/index.html#8)
Bengoa said that the US$990 million would be received after the IMF agreement was signed. He said of these, US$300 million would be from the World Bank, US$390 million from the Inter-American Development Bank (IDB) and US300 million from the IMF.
Bengoa said that a further US$150 million would be received from the IMF next year.
The letter also establishes that in 2010 the government will place US$1 billion in sovereign bonds. The agreement will not include new taxes. The government does have plans to review tax incentives that are in place.
The government announced that it would send a bill requesting transfer of funds between government departments.
Bengoa said that although the government has a fiscal problem, the IMF mission has stated the performance of the Dominican economy is one of the best in the region.
More... (http://www.dr1.com/index.html#8)