NewsWhore
04-08-2010, 05:50 PM
The International Monetary Fund has approved the letter of intent sent by the Central Bank on 19 March, as reported in Diario Libre. The DR now expects to receive approximately US$120 million from the IMF this week. Of the amount, US$37.87 million will bolster the national budget and US$82.20 million is being allocated to strengthen the international reserves of the Central Bank.
The government expects to receive US$526.02 million through 2010, of which US$151.48 million will go to the central government and US$374.54 million to the Central Bank.
The approval of the letter of intent also opens the doors for the placement of sovereign bonds.
As reported by Bloomberg in October 2009, Barclays Plc and Citigroup are expected to arrange the placement. This will be the country's first international dollar bond sale in more than three years. The DR last sold dollar bonds abroad in 2006, a year after defaulting on US$1.1 billion of debt.
More... (http://www.dr1.com/index.html#4)
The government expects to receive US$526.02 million through 2010, of which US$151.48 million will go to the central government and US$374.54 million to the Central Bank.
The approval of the letter of intent also opens the doors for the placement of sovereign bonds.
As reported by Bloomberg in October 2009, Barclays Plc and Citigroup are expected to arrange the placement. This will be the country's first international dollar bond sale in more than three years. The DR last sold dollar bonds abroad in 2006, a year after defaulting on US$1.1 billion of debt.
More... (http://www.dr1.com/index.html#4)