Today’s papers report varying reactions to yesterday’s news that the agreement between the government and the International Monetary Fund (IMF) was back on track. While PRD politician Hatuey Decamps said it would be “terrible for the country because of the mess made by the President.” He also said the measures imposed by the agreement, such as tax controls, would affect everyone. The business community, however, has been united in its expression of relief that after five months of uncertainty, the agreement had been signed.
The National Council of Business (CONEP) and Young Entrepreneurs Association (ANJE) both welcomed the news, saying they expected it would bring improvements to the exchange rate and economic stability in the short term. CONEP president Elena Viyella de Paliza warned, however, that the agreement should not lead to any false hopes of overnight remedies. She called for the implementation of the required measures and reforms so that the beneficial economic effects could follow. Viyella de Paliza said it was essential that people understand that the disbursement of funds was aimed at strengthening public finances and a system of rigorous fiscal discipline. She emphasized that the authorities had to play their part, if the measures were to succeed in putting the country back on the path to economic recovery. Manuel Diez Cabral, president of ANJE, voiced his hope that the signing would bring back economic stability, also stressing the need for the authorities to comply with the reforms and refrain from making any mistakes that could jeopardize the agreement.
Wishing to recognize the significant positive developments of the past few days, William Malamud, executive vice-president of the American Chamber of Commerce, congratulated the government authorities for getting the IMF agreement back on track. In a press release, Malamud stated: “In addition to the injection of hard currency that the agreement will entail, the agreement sends a clear signal that there is a coherent plan in place to re-establish macroeconomic stability. The agreement requires a variety of measures that will be painful in the short term, but which represent the best chance of stabilizing a deteriorating macroeconomic situation. It will require disciplined political will to stay the course.”