2003News

CONEP wants IMF deal back

Elena Viyella de Paliza, president of private business association CONEP, has called on the government to restore its relations with the International Monetary Fund, which suspended its disbursements to the DR in September in reaction to the government’s sudden announcement that it would buy back the power distribution companies previously controlled by Spanish company Union Fenosa. “It is important that the IMF process is resumed as soon as possible, as this will give us peace of mind as well as providing for the flow of fresh resources”. Viyella also encouraged all relevant sectors to pull together in order to overcome the current economic difficulties. Speaking after a meeting with President Hipolito Mejia at the National Palace, she said that the country must create the conditions for investment confidence and find new ways of generating foreign currency, which is, according to her, the only way that the dollar-peso exchange rate could be reduced. She stressed the need for coherent policies and fiscal discipline on the part of the government, saying that CONEP’s role was to collaborate with the authorities and to propose solutions.