Diario Libre reports that the government is looking at the possibility of further fiscal measures, including a tax on income earned on savings and loans associations. This is aimed at compensating the estimated fiscal deficit of
RD$13.5 billion for 2003. A source told the newspaper that this measure was among the International Monetary Fund?s recommendations. Measures imposed so far are expected to generate RD$7.2 billion, equivalent to only 53% of the amount needed for
interest payments on the Central Bank?s investment certificates. According to projections by the IMF mission to the Dominican Republic, the measures in place will allow the authorities to raise just over RD$17.7 billion in 2004, while the projected
deficit is estimated at RD$21 billion. The dollar-peso exchange rate has hovered around RD$35 to US$1 for the last two weeks, but has not gone down, despite monetary strategical measures, such as the issue of Central Bank investment certificates.