The business community has agreed to make monthly contributions of RD$325 million until February 2004 as a way of helping
\nthe government ease the effects of the current economic crisis and to raise the funds needed to resurrect the standby
\nagreement with the International Monetary Fund, which has been paralyzed for the past month. The Free Trade Zones will pay
\nRD$150 million, the tourist sector RD$125 million and exporters RD$50 million, on a monthly basis. Elena Viyella de
\nPaliza, president of the private business association CONEP, said, “We have carried out a cost-balance and are taking on a
\nshared responsibility to restore confidence and change current expectations… The country is in a crisis of large
\nproportions and for this reason we have undertaken this commitment, which complies with the IMF’s requirements, in order
\nto relaunch the agreement.” This latest move by the business community is to be included in a new “national pact for
\nstability”, due to be signed by the government and other sectors of civil society. The authorities will still need to find
\nother ways of raising the RD$600 million it seeks for the resumption of the IMF agreement. Finance Minister Rafael
\nCalderon said that the additional funds would have to be obtained in a way that has the least effect on the most
\nvulnerable sectors of Dominican society. The Diario Libre in its main editorial column says, “No matter what people say,
\nthe Dominican business community is genuinely concerned about the economic situation. Even if their motives are not
\npatriotic or disinterested, it does not matter.” The state, says the writer, is bankrupt, and this crisis affects everyone
\nin one way or another. The editorial applauds the business community’s decision, saying that they have shown that they are
\nabove those who criticize without offering solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"
The business community has agreed to make monthly contributions of RD$325 million until February 2004 as a way of helping the government ease the effects of the current economic crisis and to raise the funds needed to resurrect the standby agreement with the International Monetary Fund, which has been paralyzed for the past month. The … <\/p>\n