Small and medium-sized businesses complained. Economist Jaime Aristy Escuder demanded an explanation as to who received the first RD$60 billion the Central Bank said was available in low-cost loans through private banks to stimulate the economy.<\/p>\n\n\n\n
As reported in El Caribe, Aristy Escuder stated: \u201cThis situation has to be clarified to know if two or three people borrowed the 60 billion pesos\u2026 and what they are doing is taking loans that were at 16% and lowering it to 9%, because this is not the way to reactivate the economy. The economy is reactivated if there are new loans for new projects,” added Aristy Escuder.<\/p>\n\n\n\n
In its most recent session, the Monetary Board approved an extra RD$25 billion for the same purpose.<\/p>\n\n\n\n
The Monetary Board approved the additional RD$25 billion in Rapid Liquidity Facility (FLR), bringing the total amount of resources injected recently into the economy from RD$94 billion to RD$119 billion.<\/p>\n\n\n\n
Some RD$60 billion were gulped up immediately through the FLR. The Central Bank says another RD$59 billion are available to finance productive sectors and households at low interest rates. The new funds are available at 9% per year, compared to the previous funds lent at 16% during 2022-2023, when inflation was taking its toll on lending.<\/p>\n\n\n\n
Read more in Spanish: 20 June 2023<\/p>\n","protected":false},"excerpt":{"rendered":" Small and medium-sized businesses complained. Economist Jaime Aristy Escuder demanded an explanation as to who received the first RD$60 billion the Central Bank said was available in low-cost loans through private banks to stimulate the economy. As reported in El Caribe, Aristy Escuder stated: \u201cThis situation has to be clarified to know if two or … <\/p>\n
Central Bank <\/a>
El Caribe <\/a>
N Digital <\/a><\/p>\n\n\n\n