NewsWhore
10-12-2009, 03:50 PM
The National Business Council (CONEP) says it will support the forthcoming IMF Stand-by Arrangement with the government on the grounds that the agreement would stabilize macro-economic elements by reactivating the economy. According to El Caribe, the main group representing the business sector in the Dominican Republic warns against further increases in the foreign debt or any new taxes, saying that current tax levels are sufficient to affect investments. CONEP sees the IMF agreement as a positive step in the face of the global economic crisis, whose main effects have been "the decrease in hard currency income at the same time as a decrease in the price of oil".
The document emphasizes the need for measures to provide more jobs and pour more resources into investment projects while preserving the DR's productive infrastructure. They said that "while the monetary authorities have been adopting measures to loosen the instruments of monetary policy, with the signing of the agreement with the IMF, greater resources will move quickly towards the productive sectors and in this way it is expected that there will be much greater economic activity." They reiterated their position that the investments should be in the framework of a program that prioritizes social spending, while taking into account the considerable levels of foreign debt and the effects on the nation's GDP.
More... (http://www.dr1.com/index.html#8)
The document emphasizes the need for measures to provide more jobs and pour more resources into investment projects while preserving the DR's productive infrastructure. They said that "while the monetary authorities have been adopting measures to loosen the instruments of monetary policy, with the signing of the agreement with the IMF, greater resources will move quickly towards the productive sectors and in this way it is expected that there will be much greater economic activity." They reiterated their position that the investments should be in the framework of a program that prioritizes social spending, while taking into account the considerable levels of foreign debt and the effects on the nation's GDP.
More... (http://www.dr1.com/index.html#8)