Government meeting with IMF

[NewsWhore]

Government officials are meeting with an International Monetary Fund mission today to discuss the budget and government spending for 2008. Hacienda Minister Vicente Bengoa said the plan is to present the budget to Congress by next week. Bengoa said that the full amount of the budget would be revealed at some point next week, because the exact figure would depend on today's meeting with the IMF. The DR still has a stand-by arrangement in place with the IMF, which puts a limit on public spending and debt. The agreement expires in January 2008, unless the government agrees to renew it. Business sectors are in favor of the renewal in order to curb government spending and borrowing in an electoral year. It appears however that the consensus among government officials is leaning towards lifting the IMF restrictions.

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