The Fernandez government chose to place the burden of the increasing petrol bill on private business. The government monetary authorities announced a ceiling to the level of commercial banking loan portfolios to that of 16 June. This will result in an increase in lending rates, and will have a negative effect on productive activities in the DR, says Celso Marranzini, president of the Council of Businesses (CONEP). The Monetary Junta also announced it will be issuing RD$650 million in treasury bonds to reduce liquidity and upward pressures on the exchange rate. Businessman Ignacio Mendez said the business sector would have preferred that the government reduce subsidies on fuel and increase the price of petrol.
