President Hip?lito Mej?a requested assistance from the Inter American Development Bank (IADB) to repair the damage caused by the Baninter fiasco. Heeding the advice of the International Monetary Fund (IMF), which suggested the DR seek international assistance to offset the far-reaching effects of the estimated RD$55-billion fraud, President Mej?a appealed to Enrique Iglesias, the head of the IDB, for aid in the form of a financial package.
According to the reports in El Caribe, the requested funds would not come exclusively from the IADB, but rather from a pool of multilateral organizations and governments. Mej?a was especially careful to request assistance from ?our principal business partner and international ally, the United States.?
Today, the President will talk with the Secretary of the Treasury, John Snow, and outline the support he needs and the situation that has been created by the government?s intervention in the Baninter Group.
Iglesias offered three steps he felt could be taken in order to circumvent potential adversities due to Baninter?s collapse. These steps are: (a) complete transparency in the handling of the case; (b) a tightening of supervision of the macroeconomic variables; and (c) to make use of the international credits offered by multinational organizations.
As reported in El Caribe, Iglesias made the recommendations to the President and a business committee that included Manuel Grull?n, Elena Viyella de Paliza, Jose Manuel L?pez Vald?s, Jos? Clase, Ram?n Men?ndez, Jorge Iv?n Ramirez, Juan Vicini, Rafael Perell?, Abraham Hazoury, Ricardo Brugal and Fernando Capell?n,
among others.