2003News

Business community favors agreement with IMF

Many leading businesspeople believe that an agreement with the International Monetary Fund (IMF) would be the best solution to the country?s economic problems and to counteract the effects of the Baninter financial disaster. According to the Santo Domingo Chamber of Commerce and Production, the Haina Industries Association, the Council for Private Business (CONEP) and the Santiago Chamber of Commerce and Production?s President, who met yesterday, Hip?lito Mej?a?s agreement with the Inter American Development Bank (IADB) does not guarantee any economic stability or fiscal discipline. Central Bank manager Apolinar Veloz defended the agreement, and the US$500-million line of credit proposed by IADB president Enrique Iglesias to fill the void left by Baninter?s missing billions.