NewsWhore
02-20-2008, 03:20 PM
The International Monetary Fund (IMF) executive board has ended its review of Article IV of 2008 and recommended that the country maintain a watchful eye on the expansion of consumer credit and mortgage loans. They recommended that loans should be based on risk factors and with a view to strengthening institutional capacity. Such a process would require some modification to the existing Financial and Monetary Law. According to the statement that appears in today's newspapers, the IMF indicated that it is also important to ensure that the legal framework needed to create an international financial center in the Dominican Republic does not weaken the consolidated supervision. The IMF praised the work done so far in supervising the financial system. The main challenge for the DR is seen as the need to increase and to improve the focus of its social programs while at the same time generate the budget surplus needed to reduce the public debt to levels similar to those before the 2002-2004 crisis.
More... (http://www.dr1.com/index.html#4)
More... (http://www.dr1.com/index.html#4)