NewsWhore
09-07-2011, 03:50 PM
The Fernandez administration announced last night that the International Monetary Fund (IMF) is giving it a break by allowing it to increase government spending this year, as reported in Listin Diario.
President Fernandez made the announcement while attending a lecture on "Global Changes and Challenges to Dominican Foreign Policy" by Mexican senator Rosario Green at Funglode yesterday. Green was minister of foreign affairs for Mexico under Ernesto Zedillo (1994-2000).
Upon making the announcement, President Leonel Fernandez did not specify the amount approved over the previous limit. The DR maintains a stand-by arrangement with the IMF.
"We are able to convince the Fund to give us a certain breather and it now appears they are responding to our request," said Fernandez. He forecast a merry Christmas due to the leeway in spending.
The Fernandez government has been characterized by its wasteful spending, to the point the World Economic Forum awarded the DR top ranking in this category in its WEF Global Competitiveness Report.
www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf (http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf)
More... (http://www.dr1.com/index.html#5)
President Fernandez made the announcement while attending a lecture on "Global Changes and Challenges to Dominican Foreign Policy" by Mexican senator Rosario Green at Funglode yesterday. Green was minister of foreign affairs for Mexico under Ernesto Zedillo (1994-2000).
Upon making the announcement, President Leonel Fernandez did not specify the amount approved over the previous limit. The DR maintains a stand-by arrangement with the IMF.
"We are able to convince the Fund to give us a certain breather and it now appears they are responding to our request," said Fernandez. He forecast a merry Christmas due to the leeway in spending.
The Fernandez government has been characterized by its wasteful spending, to the point the World Economic Forum awarded the DR top ranking in this category in its WEF Global Competitiveness Report.
www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf (http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf)
More... (http://www.dr1.com/index.html#5)