Government and the IMF

[NewsWhore]

The government has asked the International Monetary Fund for special dispensations because some important structural criteria the stand-by arrangement signed in 2005 haven't been met. IMF directors are meeting on Friday to discuss on the matter and during the meeting a "waiver" for lack of fulfillment will be read. No details on the waiver were given. The stand-by agreement expires on 31 January. According to the IMF, one purchase report hasn't been fulfilled as well as a breach of obligations stipulated under Article VIII, section 5. Details of this were also not available. There have been increasing voices urging the government to sign another Stand-by agreement with the IMF, but Hacienda Minister Vicente Bengoa has continually stated that the DR doesn't need the IMF and that the country's economic stability is due in large part to the fiscal responsibility displayed by the current government. Listin Diario reports that even if the IMF agreement isn't renewed, the IMF will keep its office in the DR.

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