IMF sees improvement

[NewsWhore]

The International Monetary Fund has released a study that shows an improvement in the Dominican balance of payments. According to an article in El Caribe, the IMF predicts a balance of payments result that will go from -2.2% of the GDP to -1.6% of GDP between 2007 and 2008. This favorable forecast is contained in the IMF's Perspectives of the World Economy. In 2005 more capital left the DR than entered and this resulted in a balance of payments deficit of -1.5% of GDP. In 2006 it continued to decrease, resulting in a -2.4% of GDP. The IMF guidelines set for 2007 are showing a reduction of the downward trend, and the prediction is for a -2.2% of GDP result by year's end. The Central Bank of the Dominican Republic has reported a 26.5% increase in imports and an 8.4% reduction in exports for the first half of 2007.

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