NewsWhore
12-10-2009, 04:50 PM
World Bank DR country representative Roberto Adrian Senderowitsch admits that the DR's greatest tragedy is that despite sustained high levels of growth it has not been able to reduce levels of social inequity. Senderowitsch told Hoy that the country had maintained annual growth rates of 8% and 9% but was not able to significantly lower poverty or reduce social inequality. He said that there needed to be a change in the quality of government spending if this is to change.
Senderowitsch says that the WB is not concerned about the DR's debt levels because this represents 36% of its GDP. He continued by saying that the DR's debt is under control and that all the government is doing is following through with a plan of public spending, "because investment can't stop at a time of crisis. But what is important is that it should be quality [investment]."
Senderowitsch said that when a country applies for a loan, its sustainability in the short and long term is studied and if the country doesn't pass, the loan isn't approved. The DR has had US$650 million in loans approved by the World Bank in the last two years, with most of the funds being directed towards the energy sector.
More... (http://www.dr1.com/index.html#2)
Senderowitsch says that the WB is not concerned about the DR's debt levels because this represents 36% of its GDP. He continued by saying that the DR's debt is under control and that all the government is doing is following through with a plan of public spending, "because investment can't stop at a time of crisis. But what is important is that it should be quality [investment]."
Senderowitsch said that when a country applies for a loan, its sustainability in the short and long term is studied and if the country doesn't pass, the loan isn't approved. The DR has had US$650 million in loans approved by the World Bank in the last two years, with most of the funds being directed towards the energy sector.
More... (http://www.dr1.com/index.html#2)