2004News

Big debt payment due

Franco Uccelli, who covers the Dominican Republic for the Bear Stearns brokerage firm, reports that the Dominican Republic’s next bond payment looms large, with a US$27-million payment due on Friday, January 23. “While we believe that the Dominican government has worked too hard and for too long to let its efforts go unsatisfied by allowing itself to miss a bond payment and push the country into default, we expect market anxiety to remain high as volatility and uncertainty continue,” he writes. In his 20 January update on the country, Uccelli speculates that the restoration of the IMF agreement could be pushed back to early February, unless the Chamber of Deputies meets this week to pass the financial systematic risk law.