The International Monetary Fund reports on the US$600
\nmillion Stand By Arrangement signed with the Dominican Republic last week. The
\ngovernment expects to receive this week US$120 million under the arrangement. In
\na press release on the agreement, explains the assistance was granted following
\nthe doubling of the debt-to-GDP ratio, the collapse of governmental banking
\nsupervision and the deterioration in public finances under the present
\nadministration.
\nThe Fund press release indicates that by the end of this year full unification
\nof the dual exchange markets should be in place. "The Dominican Republic’s
\ntradition of sound fiscal policies and low public debt needs to be restored,?
\nstates the release from the IMF. Banking interest rates are expected to keep
\nhigh as the Fund points out that ?monetary restraint will help contain pressures
\non the currency and inflation.?
\nSee
\nhttp:\/\/www.imf.org\/external\/np\/sec\/pr\/2003\/pr03147.htm<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund reports on the US$600 million Stand By Arrangement signed with the Dominican Republic last week. The government expects to receive this week US$120 million under the arrangement. In a press release on the agreement, explains the assistance was granted following the doubling of the debt-to-GDP ratio, the collapse of governmental banking … <\/p>\n