Almost at the same level as in the year when the country suffered its worse banking crisis ever, in 2004, the debt of the non-financial public sector reached US$15.78 billion as of November, or equal to 29% of the GDP, as reported in Listin Diario. In 2004 the percentage was 29.1%. Of the total 71.4% is for foreign commitments (US$11.26 billion) and the remainder for domestic debt, or 28.6% or US$4.52 billion. This is equal to RD$174.10 billion. The foreign debt represents 20.7% of the GDP and the domestic debt 8.3% of GDP estimated at US$53.7 billion for 2011, according to the governmental report on public debt, published in Listin Diario on 28 December with results up to November. <\/p>\n
The high debt ratio occurs at a time when tax collections are at all time highs, and the World Economic Forum ranks the Fernandez administration as global leader in wasteful spending. <\/p>\n
As reported in Listin Diario, the International Monetary Fund has the seventh and eighth reviews of the Stand By Arrangement signed in 2009 on hold. <\/p>\n","protected":false},"excerpt":{"rendered":"
Almost at the same level as in the year when the country suffered its worse banking crisis ever, in 2004, the debt of the non-financial public sector reached US$15.78 billion as of November, or equal to 29% of the GDP, as reported in Listin Diario. In 2004 the percentage was 29.1%. Of the total 71.4% … <\/p>\n