NewsWhore
10-20-2006, 05:20 PM
Finance Minister Vincent Bengoa is asking Congress not to approve any more loans for the rest of this year. Bengoa's plea was made so that the country could comply with requirements for the country's Stand-by agreement with the IMF. He urged Senate president Reinaldo Pared Perez and Chamber of Deputies president Julio Cesar Valentin to abide with his request. Bengoa, quoted in El Caribe, says that the limit, in order to stay in line with the IMF agreement, is U$150 million for 2006, though he did say that loans have been canceled even after being approved by the Senate. This year the government will pay out RD$45 billion in debt repayments, and will also have to shell out an estimated RD$65 billion to repay international debts in 2007.
Hoy newspaper reports that debt makes up 18% of the country's GDP and that this year they will be assigning RD$3.4 billion to cover the quasi-fiscal deficit.
More... (http://www.dr1.com/index.html#7)
Hoy newspaper reports that debt makes up 18% of the country's GDP and that this year they will be assigning RD$3.4 billion to cover the quasi-fiscal deficit.
More... (http://www.dr1.com/index.html#7)