Central Bank Governor Hector Valdez Albizu has revealed that as of now, the government has fulfilled all the goals set out by the IMF with room to spare, according to the latest evaluation by technicians of the international financial institution. According to the Listin Diario, the IMF saw that the international reserves exceeded targets, that inflation was at 3.9%, well below the 12% goal, and the exchange rate was significantly lower. As a result of these realities, the IMF will have to set out a new set of projections. According to Valdez, “the Agreement with the IMF is going very well. Excellent. They (the IMF) are favorably impressed with the fulfillment of each and every one of the goals that they had set out.” The Central Bank official denied that the country was in a recession and pointed out that commercial activity was increasing and that interest rates were dropping.
However, the mission to Washington was not all good news, according to the Diario Libre. The paper says that the issue of subsidizing propane gas for the poorest households is a done deal, and the middle class and the transport sector are waiting for the President’s speech. Vice President Rafael Alburquerque announced that 800,000 households will benefit from the so-called “Bonogas” that will allow holders to buy propane at the subsidized price of RD$25 pesos a gallon. The government also announced that it had an RD$11.94 billion cash flow surplus as of 13 May. It is expected that the surplus will be used to pay for the propane subsidy.