The International Monetary Fund has suspended the disbursement of a US$62 million allotment that was to be received on 18 May. Diario Libre reports that the money could be released in June, however, pending final results of the review that IMF officials are conducting regarding the Dominican government?s compliance with the standby agreement requirements.
Central Bank Deputy Governor Felix Calvo told Hoy newspaper that on Monday (a holiday) the government would inform the nation whether the standby agreement has been suspended on as international sources have reported. ?We know what we are going to do, but we will not do it until Monday,? said Calvo, explaining that they would not touch the subject until after the election. Calvo denied that the Central Bank has offered 60% interest on certificates of deposit and said that the rate continues to be 32-50%.