Bear and Stearns in its 20 June report titled ?Emerging Markets Sovereign Journal Weekly?, indicated that the Dominican Republic, which had been praised for the past year for its sustained economic growth, will emerge from the present economic and banking crises looking ?more like some of its regional neighbors (particularly in Central America), where both growth and fiscal pressures are moderate and public debt manageable.?
Bear and Stearns says it expects the IMF agreement to restore confidence in the financial system and bring foreign exchange and price stabilization. The company says that multilateral disbursements are likely to be conditioned on strict fiscal and monetary discipline, the sort of measures that restrict an economy?s ability to grow.