Central Bank Governor Hector Valdez Albizu believes that the government needs to implement a fiscal rule that would guarantee sustainability and prevent future detours in budget implementation. Speaking during the 65th anniversary of the Central Bank, Valdez Albizu said that if the fiscal reform is not passed, this would be irresponsible, and would plant the seeds for future deterioration of the macroeconomic conditions and loss of stability in the Dominican Republic.
Valdez Albizu discarded a devaluation of the peso. He warned speculators in dollars that the Central Bank would maintain its commitment to relative stability of the exchange rate and would take measures to prevent unwanted movements. He called for the country to back the fiscal reform proposed by President Danilo Medina.
Valdez Albizu has served as governor of the Central Bank since the start of the Fernandez administration in 2004.
www.bancentral.gov.do/noticias/discursos/discurso2012-10-23.pdf