The government’s economic team has revealed details of the revisions made to the stand-by agreement with the International Monetary Fund (IMF) which would allow the country to receive external income of approximately US$327 million during the remainder of this year, according to Diario Libre. The announcement was made in the presence of the local IMF representative. Central Bank governor Hector Valdez Albizu said that thanks to the results of the agreement revision and the renegotiation of the foreign debt, the government will be released from paying out US$342.9 million this year and US$614.2 million in 2006. The Technical Secretary of the Presidency, Temistocles Montas, stated that public spending was sacrificed to comply with the goals in the agreement. The IMF Directory will debate the second letter of intent on 17 October 2005.