The Interamerican Development Bank will lend the Dominican government US$11.5 million to implement the first phase of a financial management system that seeks to make more transparent and efficient the handling of public funds. The new system will gradually release the Central Bank from managing public credit so it can concentrate on maintaining the stability of the local currency. The agreement was signed by Enrique Iglesias, president of the IDB, and Minister of Finances Daniel Toribio for the Dominican government. President Leonel Fernández was present during the signing.
