NewsWhore
05-15-2007, 01:20 PM
The Central Bank report points out that the fiscal sector registered a RD$4.64 billion surplus in the first quarter of the year. The surplus reflects the revenues derived from the January tax increase. The non-financial public sector also generated a revenues surplus of RD$862.9 million. The consolidated balance of the non-financial public sector was a positive surplus of RD$5,511.7 million. This is RD$211.7 million more than the IMF Stand-by arrangement had estimated.
Valdez explained that the government has comfortably met the monetary objectives set with the International Monetary Fund for the first quarter, and said that the government had a surplus of RD$7.05 billion that was used to strengthen the international reserves. At the end of March, international gross reserves were US$2.55 billion, for a US$296 million increase, compared to the level at the year's end of 2006. Liquid reserves were US$1.31 billion, for a US$176.7 million increase. "It is important to point out that the behavior of the international reserves is consistent with the global result of the balance of payments that was positive by US$261.6 million," said the governor of the Central Bank at a press conference held yesterday.
An IMF mission is currently in the DR for the seventh review of the Stand-by arrangement.
More... (http://www.dr1.com/index.html#1)
Valdez explained that the government has comfortably met the monetary objectives set with the International Monetary Fund for the first quarter, and said that the government had a surplus of RD$7.05 billion that was used to strengthen the international reserves. At the end of March, international gross reserves were US$2.55 billion, for a US$296 million increase, compared to the level at the year's end of 2006. Liquid reserves were US$1.31 billion, for a US$176.7 million increase. "It is important to point out that the behavior of the international reserves is consistent with the global result of the balance of payments that was positive by US$261.6 million," said the governor of the Central Bank at a press conference held yesterday.
An IMF mission is currently in the DR for the seventh review of the Stand-by arrangement.
More... (http://www.dr1.com/index.html#1)