The Dominican government announced that commercial banks have authorized a US$100 million credit line that will serve as a guarantee to cover any fiscal deficit for the duration of the IMF stand by arrangement, as reported in the Listin Diario. The IMF requested the guarantee after Congress passed a tax reform package with projections below the original proposal level. The agreement targeted signing date was 21 January, but the Listin Diario says this could be postponed until February. The credit line would enable the government to meet any deficit in tax revenues. As reported, the signing of the agreement will open purses for the country to receive US$1 billion fresh resources over the next three years. This includes funds from the Inter-American Development Bank and the World Bank.