NewsWhore
10-01-2009, 06:00 PM
The DR government will officially present the International Monetary Fund (IMF) with its letter of intent for a new Stand-by Arrangement today. The letter describes the policies that the Dominican government plans to implement in the context of its request for financial support to fund budget deficits. It needs to be reviewed by the IMF executive board.
The government is expecting US$990 million in international funds for this year. The funds, coming from the World Bank and the Inter-American Development Bank, will not be released until the DR signs its letter of intent with the IMF.
The WB will give US$300 million, IDB will give US$390 million and the IMF will give an additional US$300 million. US$600 million will be disbursed in 2010.
The IMF forecast that the DR economy would grow 0.5% in 2009 and 2% in 2011. This is considerably lower than the 5.3% growth registered in 2008. Inflation is expected to be 0.9% in 2009 and 5.4% in 2010.
More... (http://www.dr1.com/index.html#3)
The government is expecting US$990 million in international funds for this year. The funds, coming from the World Bank and the Inter-American Development Bank, will not be released until the DR signs its letter of intent with the IMF.
The WB will give US$300 million, IDB will give US$390 million and the IMF will give an additional US$300 million. US$600 million will be disbursed in 2010.
The IMF forecast that the DR economy would grow 0.5% in 2009 and 2% in 2011. This is considerably lower than the 5.3% growth registered in 2008. Inflation is expected to be 0.9% in 2009 and 5.4% in 2010.
More... (http://www.dr1.com/index.html#3)