2004News

Central Bank to get US$150 million

The Listin Diario says that the Interamerican Development Bank (IDB) will disburse US$150 million as a first part of US$316-million loan destined to the energy sector. Disbursements will come this month and next and include sorely-needed funds for the purchase of fuel. Central Bank Governor Jose Lois Malkun made the announcement, as he talked about the new IMF pact that will be reviewed by the IMF directorate next week in Washington. Malkun pointed out that the Dominican Republic is obligated not to give signals that there will be any failure to fulfill the new pact. After meeting with President Mejia, Malkun told reporters of the Listin Diario that the IMF accord will be drawn up using an exchange rate of RD$40 to US$1, rather than the RD$35-to-US$1 rate used at the beginning of the new round of discussion.