The Central Bank Governor has announced that the bank would auction off the first dollar certificates created by the Monetary Board next Tuesday. The sales will be made in Dominican pesos, calculated at the day’s exchange rate. Hector Valdez Albizu said that his officials feel confident that the new certificates will be snapped up quickly. “There are a lot of people interested in this operation,” he said. One of the objectives of this type of transaction is to stretch the problem of the “quasi-fiscal deficit” to a broader horizon. The Presidential Economic Team presented the new proposal, and explained that whoever obtains the new certificates will do so in dollars, and the time-frame will be from one and a half years to three years. The Central Bank guarantees that any variation in the exchange rate will be taken into account. With authorization from the IMF, the initial offer will be for US$225 million