The Monetary Junta extended for another 60 days the resolution that establishes restrictive limits on bank loans and keeps in effect the Central Bank-issued Certificados de Tesorería con Pacto de Recompra (Repos). Both measures penalize the private sector for government overspending and its delay in passing on to consumers the increase in fuel prices on international markets. Economist Andres Dauhajre says that delay is costing the government RD$22 million a day. He said that international reserves are declining US$1.5 million a day. The Mejía administration has chosen to let the National Congress pass the petrol bill that establishes an automatic index of domestic fuel prices with international fuel prices. Congress expects the bill to pass in September.
