NewsWhore
06-21-2011, 05:20 PM
The board of directors of the International Monetary Fund (IMF) will look at the fifth and sixth reviews of the Stand-by Arrangement with the Dominican Republic, signed in October 2009, and take a vote. To maintain the agreement, the IMF accepted the government's proposed tax package aimed at raising an additional RD$9.6 billion in revenues to compensate for the fiscal deficit. The government argues the deficit is caused by the rising fuel prices.
A source close to the IMF told El Nuevo Diario that the financial agency is only waiting for Congress to approve the tax package to in turn approve the pending fifth and sixth reviews. The "big package", as the proposals were called by the people, has led to bitter criticism from several sectors which are calling on the government to cut back its own spending. At the same time the administration is waiting for the approval by the IMF in order to receive hundreds of millions of dollars that are scheduled for disbursement this year and that are included in the budget.
More... (http://www.dr1.com/index.html#2)
A source close to the IMF told El Nuevo Diario that the financial agency is only waiting for Congress to approve the tax package to in turn approve the pending fifth and sixth reviews. The "big package", as the proposals were called by the people, has led to bitter criticism from several sectors which are calling on the government to cut back its own spending. At the same time the administration is waiting for the approval by the IMF in order to receive hundreds of millions of dollars that are scheduled for disbursement this year and that are included in the budget.
More... (http://www.dr1.com/index.html#2)