Although the government has been able to reduce its external debt by US$107.2 million or 1.5%, it has increased its internal debt by US$202.5 million, or 5%. <\/p>\n
A report by the Hacienda Ministry’s Public Debt Department revealed that at close, on 31 May 2009, the external debt totaled US$7.129 million, down from US$7.237 million in December 2008. <\/p>\n
The report indicates that the global public debt has risen by 0.8% going from US$11.2 billion to US$11.33 billion, which is equivalent to 25% of the nation’s GDP, meaning that for every US$100 produced in the country, RD$25 goes towards debt. <\/p>\n
The report also indicates that internal debt went from US$3.998 billion to US$4.201 billion during this period. <\/p>\n
The government has taken on US$7.1 billion in total debt, of which US$3.753 billion is from bi-lateral agreements and US$1.8 billion are with multi-lateral organizations. The DR has entered into agreements with the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank (IDB). <\/p>\n
The debt as a product of bonds totals US$1.12 billion, a reduction of US$52.8 million, or 4.1%, since December.<\/p>\n
The internal debt with commercial banks equals US$850 million, during the first five months of the year, while recapitalization of internal bonds has totaled US$2.3 billion. In relation to the nation’s GDP, both internal and external debts have increased, with the internal debt increasing by 9.4% during the first five months of the year, while external debt has increased by 16% as a product of the GDP. <\/p>\n
When Fernandez returned to government in August 2004 the public debt was US$9.59 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Although the government has been able to reduce its external debt by US$107.2 million or 1.5%, it has increased its internal debt by US$202.5 million, or 5%. A report by the Hacienda Ministry’s Public Debt Department revealed that at close, on 31 May 2009, the external debt totaled US$7.129 million, down from US$7.237 million in … <\/p>\n