2004News

IMF agreement to resume in November

Central Bank Governor Hector Valdez Albizu said yesterday that the International Monetary Fund Standby Agreement should be resumed in November, meaning that the country would receive US$1 billion in fresh resources. Valdez Albizu, who spoke to the press after a meeting between the business sector and the Central Bank, said that the country is currently meeting the requirements of the financial body. Valdez Albizu explained the national situation to the assembled businesspeople and described how they are dealing with the quasi-fiscal deficit. The Central Bank governor also encouraged them to purchase Central Bank certificates of investment, which he touted as offering excellent yields.