Business wants IMF to stay

[NewsWhore]

The Herrera Industrial Association (AEIH) and the Federation of Industrial Associations have urged the government to continue with some type of agreement with the International Monetary Fund (IMF), in the light of new issues surrounding internal and external economic agendas. According to the associations, such a working agreement with the IMF would guarantee economic stability and maintain the confidence level of the international community, two of the present administration's major achievements. In a joint statement, the industrialists said that the current fuel price crisis, the sub-prime issue in the United States and the effects of Tropical Storm Noel, combined with next May's elections are enough to create adverse conditions that will require iron discipline in the handling of public finances. Business organizations have been critical of the fact that that even with the constraints of the IMF Stand-by Arrangement, the government violated its own Austerity Law and entered into international funding commitments, such as the Sun Land financing for public works.

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