[DR1] Montas against more foreign debt

[NewsWhore]

Technical Minister of the Presidency Temistocles Montas said during a workshop to prepare new legislators held in Bavaro last week that the government does not want to continue taking on more debt, as has occurred in recent times when billions in loans with foreign commercial banks and guaranteed by foreign export agencies have been taken on without tenders, with the payment of high commissions and fees, and at higher than market costs. Montas told the elected legislators whose terms begin 16 August that the country cannot continue to take on more foreign debt. Recently, Congress passed a US$132 million debt with the guarantee of US Eximbank, the US government export agency, and another for US$45 million for the construction of an aqueduct in Samana, with ABN Agrobank and an unnamed foreign export bank.

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