Technical Secretary to the Presidency Carlos Despradel says that resuming the International Monetary Fund agreement will depend on the Chamber of Deputies’ approval of the systematic financial risk bill that had been previously approved by the Senate, but was not given priority in the lower house. The deputies have not reconvened since the move to push an extensive electoral reform bill through Congress became the hottest issue pending despite President Hipolito Mejia having extended the legislative period for another 60 days. The agreement with the IMF was suspended last year after the Mejia government took on additional debt with the buyback of the Union Fenosa power distributors without the approval of the IMF.
The president of the Chamber of Deputies has not called the deputies back to work, Diario Libre reports. Because Wednesday, 21 January is a holiday in the Dominican Republic, Hoy newspaper nevertheless says that the deputies will hold a work session on Thursday to vote on the systematic financial risk bill.
The Listin Diario reports that Carlos Despradel said last week that the government otherwise concluded its part of negotiations leading to resume the IMF agreement. Meanwhile, Hoy newspaper reports that the recently passed in Congress bill that increases taxes on alcoholic beverages, appliances and other items considered luxury items, has not been signed into law by the government because last minute modifications in the bill are being disputed by the IMF, on grounds that the changes reduce the estimated revenues the tax would produce.