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IMF Approves Stand-By Arrangement with Dominican Republic<\/STRONG>
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T<\/SPAN><\/SPAN>he Central Bank of the Dominican Republic announced that the Executive Board of the International Monetary Fund (IMF) approved the Stand-By Arrangement with the Dominican Republic. <\/P> With this new accord, the DR will immediately receive $300 million dollars from the IMF…<\/P> The accord, in effect for a period of 28 months, allows the Dominican Republic to have access to $1,095 billion (equivalent to $1.7 billion dollars) in IMF Special Drawing Rights (SDRs) funds once the arrangement is approved. <\/P> With this new accord, the DR will immediately receive $300 million dollars from the IMF, earmarked for the government, as was stipulated in the recently published Letter of Intention. In addition, this arrangement frees up disbursements from the Inter-American Development Bank and the World Bank. <\/P> The main objective of the program is to stimulate recovery of the Dominican economy in a stable macroeconomic climate and to strengthen growth perspectives through the implementation of an anti-cyclical, short term policy in order to achieve long term sustainability. <\/P> The IMF technical team and the Dominican representatives to the IMF presented the agreement. One of the most relevant elements put forward was the need for the DR to implement a fiscal policy that stimulates the economy, limited by the tight fiscal situation stemming from the more than a 10% drop in tax revenue for the period from January to September 2009, which has caused a 30% reduction in cost and spending.<\/P> With a drop in demand added to the impact of rising prices for natural resources, inflation has remained low, at 0.2% and in accumulated terms only 4.5 percent. <\/P> IMF Approves Stand-By Arrangement with Dominican Republic The Central Bank of the Dominican Republic announced that the Executive Board of the International Monetary Fund (IMF) approved the Stand-By Arrangement with the Dominican Republic. With this new accord, the DR will immediately receive $300 million dollars from the IMF… The accord, in effect for a period … Continue reading “IMF Approves Stand-By Arrangement with Dominican Republic”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3492","post","type-post","status-publish","format-standard","hentry","category-noticias"],"_links":{"self":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts\/3492"}],"collection":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/comments?post=3492"}],"version-history":[{"count":0,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts\/3492\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/media?parent=3492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/categories?post=3492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/tags?post=3492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nDate of Publication: November 11, 2009<\/EM><\/TD><\/TR><\/TBODY><\/TABLE><\/p>","protected":false},"excerpt":{"rendered":"