NewsWhore
07-18-2011, 05:30 PM
The government is expected to receive US$348.1 million in disbursements from the International Monetary Fund, following the passage of a fiscal package and an announcement of increases in electricity tariffs in order to reduce the government deficit and comply with requirements to maintain the 2009 Stand-by Arrangement.
As reported in El Caribe, US$132.5 million of the US$348.1 million is being allocated to the Central Government and US$215.6 million to the Central Bank.
The government is also in the process of issuing US$500 million in sovereign bonds for a new injection of funds.
Central Bank governor Hector Valdez Albizu announced on Friday that the IMF board had approved the Letter of Intent corresponding to the fifth and sixth reviews of the Stand-by Arrangement.
More... (http://www.dr1.com/index.html#1)
As reported in El Caribe, US$132.5 million of the US$348.1 million is being allocated to the Central Government and US$215.6 million to the Central Bank.
The government is also in the process of issuing US$500 million in sovereign bonds for a new injection of funds.
Central Bank governor Hector Valdez Albizu announced on Friday that the IMF board had approved the Letter of Intent corresponding to the fifth and sixth reviews of the Stand-by Arrangement.
More... (http://www.dr1.com/index.html#1)