NewsWhore
03-28-2007, 02:50 PM
The Treasury Minister Vicente Bengoa revealed that last year US$2.7 billion entered the Dominican economy, and this permitted the government to pay the petroleum invoices, avoiding a collapse in the economy. According to the minister, who met with the executives of the El Caribe, remittances have grown by 12% each year since 2000. According to his estimates, this year the country should receive about US$3 billion in remittances. Over the last ten years, more than US$20 billion has entered the Dominican Republic, sent home by overseas Dominicans. This is more than ten times the assistance received from the World Bank or the IMF. Bengoa pointed out that the US$2.75 billion was almost exactly the same as the billing for petroleum imports.
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