2003News

Silverio predicts more measures

Diario Libre quotes economist Pedro Silverio as saying that the country?s economic growth will slacken over the next four years as a result of the IMF measures, and that further measures exist in the letter of intention that have not yet been made public. As director of the economic think-tank Cenantillas, Silverio believes that the stipulations of the IMF may include a reduction in public spending by as much as RD$80 billion a year. The IMF accord could open some windows to funding opportunities, according to Silverio, who also stated that an agreement with the international organization would probably have been necessary even without the Baninter collapse, due to the adverse conditions of the economy already in place.