NewsWhore
01-24-2008, 03:10 PM
As the expiry date of the Stand-by arrangement with the International Monetary Fund approaches, the Dominican government has an added set of issues it has to consider as it decides whether or not to sign for continued IMF surveillance. Although the continued increase of international oil prices is still a major concern, a possible recession in the US economy, increases in world food prices and a deficit in the country's balance of payment accounts are factors that should make the government rethink its decision to end the accord on 31 January. Hoy writes that a recession, or decreased growth in the US economy, would hurt the Dominican economy more than an increase in fuel prices. The country's private business sector has openly championed the idea that the government should stay "under the IMF umbrella."
In related news, President Leonel Fernandez has instructed his economic team to carry out the proper studies about the possibility of re-signing the Stand-by arrangement with the IMF. The Administrative Minister to the Presidency, Luis Manuel Bonetti, made the announcement, mentioning that although the President has the final say, he feels that the government has done a good job in terms of handling the economy and that the DR has done enough to continue without the IMF. Bonetti, quoted in Hoy, said that many of the challenges that the current administration has experienced have been solved, and that if an agreement is signed with the IMF it doesn't have to be under the same conditions as the one that expires this month.
More... (http://www.dr1.com/index.html#2)
In related news, President Leonel Fernandez has instructed his economic team to carry out the proper studies about the possibility of re-signing the Stand-by arrangement with the IMF. The Administrative Minister to the Presidency, Luis Manuel Bonetti, made the announcement, mentioning that although the President has the final say, he feels that the government has done a good job in terms of handling the economy and that the DR has done enough to continue without the IMF. Bonetti, quoted in Hoy, said that many of the challenges that the current administration has experienced have been solved, and that if an agreement is signed with the IMF it doesn't have to be under the same conditions as the one that expires this month.
More... (http://www.dr1.com/index.html#2)