Supporting agreement

[NewsWhore]

The Young Entrepreneurs Association (ANJE), the Association of Santiago Industrialists (ACIS) and the Dominican Business Federation (FDC), have all thrown their support behind the Dominican government's imminent Stand-by Arrangement with the International Monetary Fund (IMF). However, ACIS president Luis Nunez says the agreement will only work if there are no more taxes and the funds are well spent. He added that the agreement could lead to an economic recovery, but this would depend on the policies implemented by the government. FDC president Ivan Garcia says that the funds the DR will get will strengthen the reserves in the Dominican Central Bank and could help control inflation. Ricardo Bonetti of ANJE says that a tax increase should not be part of the agreement. Although the business sector is supporting the agreement, some have expressed concern that the agreement does not give details on how to spend the money or how to invest it.

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