NewsWhore
10-28-2009, 05:40 PM
Minster of Economy, Planning and Development Temistocles Montas is defending the government's increasing debt by saying that its overall purpose is to stimulate the Dominican economy. Montas added that the government would continue taking on debt as a strategy in the face of the international crisis. He added that the government could not just stand by helplessly. Montas was responding to comments by Manuel Diez Cabral, president of the DR Industries Association (AIRD), who commented that the increased debt could put the country's relative macroeconomic stability in danger. Diez commented that the public debt is at US$18.2 billion and that agreements on the way with the IMF and other multilateral and private banks could add another US$4 billion. He said that already the US$18.2 billion debt is 39.4% of the Gross Domestic Product (estimated at US$46 billion).
Montas argued that the United States is currently increasing its debt to stay above water.
More... (http://www.dr1.com/index.html#4)
Montas argued that the United States is currently increasing its debt to stay above water.
More... (http://www.dr1.com/index.html#4)