NewsWhore
01-02-2012, 03:00 PM
Almost at the same level as in the year when the country suffered its worse banking crisis ever, in 2004, the debt of the non-financial public sector reached US$15.78 billion as of November, or equal to 29% of the GDP, as reported in Listin Diario. In 2004 the percentage was 29.1%. Of the total 71.4% is for foreign commitments (US$11.26 billion) and the remainder for domestic debt, or 28.6% or US$4.52 billion. This is equal to RD$174.10 billion. The foreign debt represents 20.7% of the GDP and the domestic debt 8.3% of GDP estimated at US$53.7 billion for 2011, according to the governmental report on public debt, published in Listin Diario on 28 December with results up to November.
The high debt ratio occurs at a time when tax collections are at all time highs, and the World Economic Forum ranks the Fernandez administration as global leader in wasteful spending.
As reported in Listin Diario, the International Monetary Fund has the seventh and eighth reviews of the Stand By Arrangement signed in 2009 on hold.
More... (http://www.dr1.com/index.html#8)
The high debt ratio occurs at a time when tax collections are at all time highs, and the World Economic Forum ranks the Fernandez administration as global leader in wasteful spending.
As reported in Listin Diario, the International Monetary Fund has the seventh and eighth reviews of the Stand By Arrangement signed in 2009 on hold.
More... (http://www.dr1.com/index.html#8)