NewsWhore
08-27-2007, 04:00 PM
For the first time in three years, since 2004, the trade balance of the DR is showing a trade deficit. Hoy newspaper analyzes that at the end of the Hipolito Mejia administration (January-June 2004), the country enjoyed a trade surplus of US$807.9 million. A year later, in 2005, the trade surplus had declined to US$76.8 million and by 2006 to US$11.9 million for the same period. As for January-June 2007, the country is reporting a US$802.3 million trade deficit.
Central Bank Governor Hector Valdez Albizu explained that capital inflows cover the deficit and thus it does not affect macroeconomic stability. He said that during the first half of the year, the country had a surplus in the overall balance of payments of US$441 million. The DR posted net international reserves of US$1.46 billion, up from US$646 million in June 2006.
In the Sunday economic review in Hoy newspaper, Valdez Albizu says that the authorities have designed a 10-year scheme to resolve the quasi-fiscal debt. He said that the real estate sector crisis in the US would not affect the quasi-fiscal debt. He said it is not true that the Central Bank has received deposits in foreign currency from foreign investors that could pull out at any time. On the contrary, he said that at present the Central Bank has to constantly buoy the exchange rate given the large flow of foreign capitals that are entering the market.
http://www.bancentral.gov.do/publicaciones_economicas/... (http://www.bancentral.gov.do/publicaciones_economicas/infeco_preliminar/infeco_preliminar2007-06.pdf)
More... (http://www.dr1.com/index.html#2)
Central Bank Governor Hector Valdez Albizu explained that capital inflows cover the deficit and thus it does not affect macroeconomic stability. He said that during the first half of the year, the country had a surplus in the overall balance of payments of US$441 million. The DR posted net international reserves of US$1.46 billion, up from US$646 million in June 2006.
In the Sunday economic review in Hoy newspaper, Valdez Albizu says that the authorities have designed a 10-year scheme to resolve the quasi-fiscal debt. He said that the real estate sector crisis in the US would not affect the quasi-fiscal debt. He said it is not true that the Central Bank has received deposits in foreign currency from foreign investors that could pull out at any time. On the contrary, he said that at present the Central Bank has to constantly buoy the exchange rate given the large flow of foreign capitals that are entering the market.
http://www.bancentral.gov.do/publicaciones_economicas/... (http://www.bancentral.gov.do/publicaciones_economicas/infeco_preliminar/infeco_preliminar2007-06.pdf)
More... (http://www.dr1.com/index.html#2)