NewsWhore
01-11-2010, 03:20 PM
Central Bank governor Hector Valdez Albizu has held a long meeting with some of the nation's leading economists, headed by Bernardo Vega and including Carlos Despradel, Fernando Alvarez Bogaert, Porfirio Garcia, Jose Luis de Ramon and Henri Hebrard. During the talks the governor analyzed the fundamental aspects of the GDP growth over the last two quarters of 2009. Although the final figures for the fourth quarter were not yet available, the governor said that the Monthly Economic Activity Indicators (IMAE) appeared to show that the fourth quarter would be positive for the GDP. Economic growth in the quarter was attributed to an expansion in money circulating as well as other economic events that normally occur in the last part of the year. The government also relaxed monetary policy and enabled drastic reductions in interest rates, and increased bank credits significantly.
In addition, the announcement of the Stand-by arrangement with the International Monetary Fund (IMF) bolstered confidence and facilitated external as well as internal credit. As a result, it appears as if the economic forecasts for the period might have been a bit too conservative.
More... (http://www.dr1.com/index.html#7)
In addition, the announcement of the Stand-by arrangement with the International Monetary Fund (IMF) bolstered confidence and facilitated external as well as internal credit. As a result, it appears as if the economic forecasts for the period might have been a bit too conservative.
More... (http://www.dr1.com/index.html#7)