IMF pressures for passage of bills

[NewsWhore]

According to Temistocles Montas, the Minister for Planning, Economy and Development, the International Monetary Fund is pressing for the passage of several legislative packages in order to facilitate the disbursement of more funds. The legislation is needed in order for the latest Letter of Intent to be reviewed by the IMF directorate in June. According to Montas, over US$200 million is involved. DR1 News has reported on the pending initiatives, which are aimed at criminalizing electricity theft, re-capitalizing the Central Bank and reforming the Monetary and Finance Law. While there is agreement that all who consume the service should pay for it, other changes to the Electricity Law that are incorporated in bill have been criticized for affecting business competitiveness. Furthermore, the bill has been criticized for unilaterally favoring the power distributors, while stipulations to avoid common practices that irregularly increase the bills of consumers are not contemplated.

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