NewsWhore
06-07-2011, 03:10 PM
The Fernandez administration has announced an 8% increase in electricity tariff rates and a RD$9.5 billion taxation package sent to Congress last week. With that, the mission from the International Monetary Fund (IMF) and the administration's economic team concluded the talks on the fifth and sixth reviews of the Stand-by arrangement. But there are "still some technical things pending" that the directors of the financial agency will have to discuss in order to approve a new Letter of Intent (LOI), Central Bank Governor Hector Valdez Albizu and Alejandro Santos, the IMF head of mission said after a meeting with President Leonel Fernandez at the Presidential Palace last night.
Valdez Albizu told Diario Libre that in principle they have agreed "on practically all of the main points," which the IMF commissioners will discuss with the directors in Washington and report back to the government. "From the point of view of the government, they have reached, in principle, some satisfactory aspects, which will be pending until the IMF board of directors discusses them, and then they have to consult with their superiors regarding a point of form; but they need to consult," said the Central Bank governor.
Santos said that today, before leaving for Washington, they would issue a statement with the results of their mission. Nonetheless, he stressed that they had managed to make good progress in the discussions of the rough draft of the Letter of Intent. "There are some technical things that still have to be discussed and we hope to finish up as soon as possible," said Santos.
More... (http://www.dr1.com/index.html#1)
Valdez Albizu told Diario Libre that in principle they have agreed "on practically all of the main points," which the IMF commissioners will discuss with the directors in Washington and report back to the government. "From the point of view of the government, they have reached, in principle, some satisfactory aspects, which will be pending until the IMF board of directors discusses them, and then they have to consult with their superiors regarding a point of form; but they need to consult," said the Central Bank governor.
Santos said that today, before leaving for Washington, they would issue a statement with the results of their mission. Nonetheless, he stressed that they had managed to make good progress in the discussions of the rough draft of the Letter of Intent. "There are some technical things that still have to be discussed and we hope to finish up as soon as possible," said Santos.
More... (http://www.dr1.com/index.html#1)