The Dominican government is asking the International Monetary Fund (IMF) to raise the foreign debt limit by 173%, according to the document that covers the fifth and sixth revisions of the Stand-by agreement. The government also promises to limit the subsidy to the electric sector and LPG for household use to between 1% and 2% of the GDP. The plan calls for a reduction in the money sent to municipal governments and a cut in capital expenditure. The authorities are looking to use these cuts as a way to recapitalize the Central Bank and to increase health and educational services.
See the agreement in Spanish at http://www.bancentral.gov.do/acuerdo_fmi.asp?a=FMI