The Dominican government has secured a US$100 million loan with the Interamerican Development Bank for the so-called "paquetazo social," or social programs intended to buffer the effects of the price increases caused by the launching of a major tax increases program at the start of January, as reported in the Listin Diario. Reportedly, the loan establishes a 18-month disbursement period. It was requested at the start of the new government, given the low financial reserves situation caused by months of the government not passing on to consumers the increases in the price of petroleum in international markets. The President has advanced that the government will put into place a RD$10,000 million social program. The Technical Secretary of the Presidency, Rafael Calderon has said that the program will focus on promoting an increase in farm produce and on activities that will reduce unemployment. The plan supposedly will be announced on Thursday. The Presidency says that experts from Argentina, Chile, Venezuela, Mexico and Spain have consulted with the government to create the social program.
