President-elect Leonel Fernandez says that his top priority at the start of his government will be to confront the economic and social crises that have beset the country. He spoke of the need to stabilize the economy and bring prices down. “We will give priority to lowering prices, but this needs to be based on a reduction in the exchange rate so that it stabilizes and then leads to a reduction in inflation,” he said. He said he would work to stimulate micro-, small-, and medium-sized companies to increase jobs.
Fernandez has said he would respect international commitments contracted by the state, specifically mentioning the US$1.1 billion issued in sovereign bonds. He also mentioned, however, that his government would consider negotiating a new bond issuance to reschedule the money due in 2006. The first US$500 million of the bonds taken in 2001 expire in 2006.