NewsWhore
11-19-2009, 05:20 PM
Increasing debt instead of cutting public spending has been a common practice by DR governments at times of financial difficulty. Hoy reports on Economy, Planning and Development Minister Temistocles Montas' defense of the recent loans taken out by the government, which have increased the foreign debt. Montas said that its not that the PLD party has a knack for taking on more debt, but that the financial crisis the DR is facing forced the government to take on more loans to stimulate the economy.
He did admit that taking on more debt is a cause for concern, but continued his justification by saying that all countries have followed this pattern of more debt to deal with harsh economic situations. Montas went on to compare the DR's debt to that of the US and European countries.
More... (http://www.dr1.com/index.html#4)
He did admit that taking on more debt is a cause for concern, but continued his justification by saying that all countries have followed this pattern of more debt to deal with harsh economic situations. Montas went on to compare the DR's debt to that of the US and European countries.
More... (http://www.dr1.com/index.html#4)