NewsWhore
08-15-2012, 03:20 PM
Central Bank governor Hector Valdez Albizu says that tomorrow, Thursday 16 August, the government will need to tackle poverty and unemployment but will receive a totally different economy, and despite the difficult international situation, the year will end with inflation at 4% and more than US$3.6 billion in net international reserves. He said that consolidated reserves are at US$2.45 billion, much more than the US$2.3 billion goal set with the International Monetary Fund.
He said that July ended with inflation at 0.69%, annualized at 1.67%, whereas the exchange rate has only moved 3.5%. "If this wasn't good performance, then tell me how to do otherwise," he said when presenting the Central Bank 2004-2012 Report.
Valdez Albizu said that his greatest achievement was to have maintained stability, controlled inflation and overseen a growth rate of almost 4%, higher than the Latin American average for January-July 2012.
As far as the possibility of Danilo Medina keeping him as head of the Central Bank, Valdez Albizu said that he would do whatever the country decided and would respect any decision that is made.
Last night President Fernandez honored him for his period of management at the Central Bank.
www.listindiario.com/la-republica/2012/8/15/243647/Albizu-afirma-reservas-estan-en-US3600-MM (http://www.listindiario.com/la-republica/2012/8/15/243647/Albizu-afirma-reservas-estan-en-US3600-MM)
More... (http://www.dr1.com/index.html#4)
He said that July ended with inflation at 0.69%, annualized at 1.67%, whereas the exchange rate has only moved 3.5%. "If this wasn't good performance, then tell me how to do otherwise," he said when presenting the Central Bank 2004-2012 Report.
Valdez Albizu said that his greatest achievement was to have maintained stability, controlled inflation and overseen a growth rate of almost 4%, higher than the Latin American average for January-July 2012.
As far as the possibility of Danilo Medina keeping him as head of the Central Bank, Valdez Albizu said that he would do whatever the country decided and would respect any decision that is made.
Last night President Fernandez honored him for his period of management at the Central Bank.
www.listindiario.com/la-republica/2012/8/15/243647/Albizu-afirma-reservas-estan-en-US3600-MM (http://www.listindiario.com/la-republica/2012/8/15/243647/Albizu-afirma-reservas-estan-en-US3600-MM)
More... (http://www.dr1.com/index.html#4)