Economist Jose Aleman reaffirmed yesterday that he believes the government is technically broke and on a path to uncertainty. ?They don?t have money to pay their debts and they don?t know where they are going to get it from. The only way [for them] to pay debt is by borrowing money,? said Aleman who has been an economic advisor to the government. Aleman argued that the government has no one to blame but itself, citing the administration?s unwillingness to reduce its expenses and to stop increasing its long- and short-term debt in hard currency (e.g. dollars). Finally, Aleman expressed that as a result of the lack of confidence in the government?s monetary and fiscal policy, Dominicans are converting their pesos to dollars and depositing them in banks outside of the DR.
