Is the DR Doomed???????????????/

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Criss Colon

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Jan 2, 2002
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Please go and read the DR1 Daily news before you respond! Read""Official Word From The Fund"(Int.Monetary Fund),and:"IADB and World Bank"
In few words,they are going to loan the DR 1.2 BILLION US Dollars! This will increase the already staggering external debt incurred by the current government!!!
Remember these two names:Augustin Carstens,of the IMF,and Richard Francis,of Standard & Poors!!! Read what they have to say about the future of the DR economy,and the "POSITIVE"steps taken by the Government to "Stabalize the peso,and "IMPROVE" the monitoring of the banking system!!!
Are these the same guys who only a year ago were extoling the virtues of the Sovereign Bonds being floated by the DR? "S & P' told the World how great the bonds were!
If only they had read what was being said on DR1!
If only they would read what is being said now!
If only they read the DR1 Daily News Summaries!
Fact is,they really don't care!
Their main purpose in life is to MAKE LOANS!That, and "Eat Like Kings",fly around the world on private jets,stay in "Presidential Suites",and then do it all over again!
Shame on them,and shame on the current DR government for not only destroying the present Dominican Economy,but ensuring that it will remain a "Basket Case" well into the future!!!
"Golo" is right!!! "Man the lifeboats!" "It's everyone for themselves!"
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Ken

Platinum
Jan 1, 2002
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I don't think the DR is doomed, but it certainly is on the ropes (even though Hippo and his minions don't seem to realize it). And there is no quick fix.

I hope the newbie posters who are dreaming of earning big money by investing all of their funds in the DR will read you post, CC, and reconsider.
 
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Porfio_Rubirosa

Bronze
Apr 26, 2002
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It Takes Two To Tango!!!

I hate the international banks, development banks, investment houses and IMF much more than I hate the corrupt DR political class. To me, hipocracy is the biggest sin.

the DR political class barely makes an effort at pretending to be anything other than corrupt and self-serving. The US/Canadian/European/Japanese banks and funds, on the other hand, are in an illicit conspiracy to exploit the developing world while the IMF and World Bank fraudulently claim to be helping it.

There is a parallel thread in the "Business" forum titled "IMF Press Release" where you can really see people spew on this topic.
 
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Chris

Gold
Oct 21, 2002
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Act Now!

I think if the current situation continues, the DR will be doomed. But I really think there is still the chance of moving away from the abyss. There are many basic pieces in place, to still get out of this situation.

But, no IMF loan - no more punishing business for doing business - no more peso sliding into hell - no more bond issues. Immediate curbing of government expenditure and immediate income generation of dollars. I also do not think it will take a genius to do this, just good fiscal and government action kinda like right now! A good partnership between government and the business sector. Another year of the current shinola, I don't know....

So, I guess the answer to the question is yes - as these good things have no hope to happen anytime soon....
 
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Tony C

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Jan 1, 2002
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Once again I fail to see what is so bad with the IMF or any of the other world finacial institutions. What they are doing is just business. I guess how I am not Dominican I can't just blame others for my problems without a reason.
1.2 Billion US! Damn! Let the skimming begin!
This money has just all but assured that Hippo will be elected to a 2nd term. He will start countless public works projects which will give thousands new jobs temprarely. Other money will be spent on vote buying and gifts to anybody who backs him in his campaign.
The economy will pick up in time for the election then you will see a bigger crash then what you have witness in the past few months.
Leonel will run a half hearted campaign for 2 reasons. Why Fight now? His campaign will have to literally bankrupt itself to compete against the Hippo money grab and would you want to be President of the DR when it suffers a collapse equal to Argentina's? He will kick back and wait another 4 years and become the savior of the Dominican People.
 
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Chris

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Oct 21, 2002
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Tony C said:
Once again I fail to see what is so bad with the IMF or any of the other world finacial institutions. What they are doing is just business.
Click to expand...

What I think is bad about this specific situation, is that the blame game has a nice new road in front of it to simply continue. This specific loan does not place responsibility where responsibility belongs. It simply continues the trend. "Just business" in my book does not exist. Business comes with a level of social or other responsibility - if it does not, one can justify 'murder' in the line of business, just as easily as an ill-conceived loan. Many will disagree with me and this is just fine.
 
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