The Central Bank informed that seven renowned national and international companies have presented technical and economic proposals for the purchase and/or operation of the loan portfolios of failed banks, which would contribute to reducing the CB’s quasi-fiscal deficit, according to a report in Hoy. Central Bank governor Hector Valdez Albizu stated that this is a very important process for the monetary and financial authorities of the DR, as it should decrease in a reasonable time the stock of participation certificates and will cause the quasi-fiscal deficit to be less significant in terms of the GDP. The bidding companies are from the US, Argentina, Mexico, Colombia, Puerto Rico and the DR and are part of the Registry of Eligible Companies created by the Asset Realization Policy Committee (COPRA) as a result of the public tender performed by the Central Bank on 28 February 2005 for the pre-qualification of bidders. The Central Bank will announce the tender results on 29 July 2005 at the latest.