2001News

Hoy editorial questions government borrowing

An editorial in Hoy newspaper points out that the government has continually stressed the need to inject fresh resources into the economy to revive it. The editorial then asks why the government has only come up with 47.8% of the matching funds needed to access soft loans and donations already signed with institutions such as the Interamerican Development Bank, the Japan Cooperation Fund and the European Union development fund (Lome). Some RD$3.8 billion (approx. US$225.6 million) is on hold waiting for the government to disburse RD$607.5 million in matching funds. Of this total, the government has only made available RD$290 million. The funds would finance the modernization of Congress, the Ministry of Foreign Relations, community forestry programs, health, public works, environment and judiciary improvement programs.