The full budget for next year will depend on the outcome of the IMF agreement, but would not be defined by it, said Presidential Technical Secretary Carlos Despradel yesterday. The budget is almost complete, Despradel told reporters, and the finishing touches will be influenced by the IMF negotiations. The IMF, however, is not imposing any limit on the 2004 financial plan, leaving the amount to be determined by the Dominican government, which has retained autonomy and sovereignty on this matter. Despradel dismissed the latest rumors about further problems in the Dominican banking sector, calling them unfounded and refusing to comment further on the matter.
The US dollar has reached a record rate of RD$44.50 to US$1, while the euro has hit RD$50.