2006News

IDB sees no risks for loans

The Inter-American Development Bank (IDB) country representative for the DR, Moises Pineda, said yesterday that he foresaw no problems with the disbursements of the funds that the IDB has scheduled for this year. At the same time, he pointed out the negative results of the non-approval of the 2006 budget. He said that without the 2006 budget laws, the DR risked crossing swords with the IMF. Any delay on the budget produces a further delay in the third revision of the Stand-by accord with the IMF. The IDB will soon be disbursing US$20 million for the modernization of the financial sector, but this money is not tied to the IMF agreements.