The IMF says President Fernandez failed to get Congressional approval of Sun Land contract.
WASHINGTON. - The Dominican Government violated the International Monetary Fund’s (IMF) norms by failing to notify it of a credit extended to the private company Sun Land, said the organism today.
The case also supposes a breach of its commitments with the IMF, because it led the Government to temporarily suspend the payments, said the newspaper Diario Libre on Thursday, citing an unnamed source.
That US$130 million loan has become one of the electoral campaign’s main topics, after the opposition PRD party says the operation violates the Constitution because it doesn’t have Congressional approval.
Works Supervisors Office director Felix Bautista signed the loan contract, along with its 19 promissory notes, which apparently temporarily defaulted.
The IMF’s Executive Council, which represents the 185 countries members, analyzed the case on January 30, during its last revision of the credit agreement with the Dominican Republic and disclosed an official statement with its conclusions on Monday.
In its last paragraph, the Council said Dominican Republic didn’t comply with one of the parameters in the joint agreement, when it failed to notify it that it suspended payments on the national debt last year.
Despite the infraction, the Executive Council announced it will not take "any additional measure" against the country at this moment, in view that the
Government had adopted "remedial actions" so that information and the hiding of a national debt payment in arrears don’t happen again.
Justice minister Radhamés Jiménez has defended the contract by affirming it doesn’t constitute a public credit according to Dominican law, and didn’t require Congressional approval to extend it.
From: United Kingdom
DuH.............
Written by: Belial, 7 Feb 2008 3:45 PM
From: United States, Texas
IMF wishes to reassert its sovereignty over the DR before the DR bourgeoisie begins to believe it's in charge of the country.
IMF makes the supreme law for the DR ... called "norms" ... and expects the bourgeois DR state to comply with the IMF "norms."
One of the "norms" of the IMF commands the bourgeois state in Santo Domingo to tell the IMF everything the state does before the state does it.
The DR state didn't notify the IMF about some payments; so, the IMF accuses the DR state of breaking IMF law or "norm."
The IMF wants all the money the DR state has and is outraged that the state used some of the money to pay an contract obligation without IMF consent.
What is really behind the displeasure of the IMF is the refusal of Leonel to accept the exploitative renewal of the IMF stand-by agreement which just expired. So, the IMF is meddling in the presidential race to undermine Leonel's support with pro-IMF sectors of the bourgeoisie.
IMF is an imperial dog.
From: United States
Fernandez's mentor was Juan Bosch. His motto was "pride over money".
Please.
Fernandez is obviously dyslexic.
Written by: BASTA, 7 Feb 2008 7:58 PM
From: Dominican Republic, = Ghetto-SPM-Barrio Blanco
Fernadez is more than that.
From: United States
For the record, the US$130,000,000 (Fake Loan) never entered DR's central bank, thats what the IMF its piss about it, beside the monthly payments made to a "Panama" bank.
Dr's goverment accert that will stop further re-payments of the Sun Land loan, and no complainning !!!!!
If you where Leonel, and wants to remove US$130 M from DR, without anyone figuring out, wouldn't be easier to fake a loan and make DR's goverment deposit monthly payments at an undisclose account in Panama. Because this is in reality what happened except somebody did speak in his sleeps (Wistleblower).
I don't like the IMF, but I do have something personnal with this "Bratt".
Written by: Belial, 7 Feb 2008 8:48 PM
From: United States, Texas
Surely, you report ... in advance ... all of your transactions to your creditors for approval of the propriety of the transaction.
But it's demeaning for a sovereign state to be reduced to this condition.
From: United States, Port Washington, LI (New York)
To Perception: dear brother You really are a piece of work, tell me the secret of your hypherventilation against the dominican goverment. stay positive in your cave.............
Written by: josean, 7 Feb 2008 9:18 PM
From: United States
Ladies and gentlemen this only the tip of the iceberg.
Written by: BASTA, 7 Feb 2008 9:56 PM
From: Dominican Republic, = Ghetto-SPM-Barrio Blanco
How can you stay Positive with these crooks in office!
From: Dominican Republic
I see the government and the public like a relationship between boyfriend and girlfriend, respectively. The more the girlfriend says "I hate you cause so an so" the worse the relationship becomes, ultimately falling apart--because the girlfriend looses faith and the boyfriend starts feeling worthless. So the boyfriend starts seeing it as a futile relationship and starts taking advantage of her as much as possible before the relationship is over. But if the girlfriend is more inquisitive and stops making assumptions the relationship improves.
This is the same with the government, the more we say "I hate you cause of this and that" the worse the relationship becomes. This leads the politicians to believe that this is a futile relationship that wont last more than four years; which influences them to take advantage of the here and now. Instead, we should be more inquisitive and find out exactly what they're doing with our money.
From: Dominican Republic
(cont')
Then the officials will realize that we really care and that their jobs are important to us--which will lead to a relationship that could end in marriage. So inquire, support, and make our boyfriend feel valuable.
and DO NOT support without being inquisitive, cause that'll also lead to a bad relationship.
From: Dominican Republic
lol, that would've made it too difficult to present my analogy ie. boyfriend 1 looses faith and boyfriend 2 starts feeling worthless so boyfriend 2 starts taking advantage of boyfriend 1... this would confuse many people, including me :-)
Written by: Escott, 8 Feb 2008 9:18 AM
From: Dominican Republic, Cabrera and Sosua a few days a month
But it's demeaning for a sovereign state to be reduced to this condition.
It is more demeaning when you cant operate a country because you steal everything from the people and their childrens futures but why should I bother you with BS Abstractions when you want to spew your toxic hate?
Written by: Belial, 8 Feb 2008 12:00 PM
From: United States, Texas
IMF is the biggest and greediest thief in the world.
Written by: buenoha, 8 Feb 2008 12:15 PM
From: Dominican Republic, Santo Domingo
This all turned out to be a lie! The money from Vargas Maldonando reaches right through the journalistic integrity of some.
From: United States
“Its impossible to cover the sun with one finger”
~~~~Reality of the report~~~~~~
From: United States
Had we find out what they did with the US130,000,000 ?
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IMF makes the supreme law for the DR ... called "norms" ... and expects the bourgeois DR state to comply with the IMF "norms."
One of the "norms" of the IMF commands the bourgeois state in Santo Domingo to tell the IMF everything the state does before the state does it.
The DR state didn't notify the IMF about some payments; so, the IMF accuses the DR state of breaking IMF law or "norm."
The IMF wants all the money the DR state has and is outraged that the state used some of the money to pay an contract obligation without IMF consent.
What is really behind the displeasure of the IMF is the refusal of Leonel to accept the exploitative renewal of the IMF stand-by agreement which just expired. So, the IMF is meddling in the presidential race to undermine Leonel's support with pro-IMF sectors of the bourgeoisie.
IMF is an imperial dog.
Please.
Fernandez is obviously dyslexic.
Dr's goverment accert that will stop further re-payments of the Sun Land loan, and no complainning !!!!!
If you where Leonel, and wants to remove US$130 M from DR, without anyone figuring out, wouldn't be easier to fake a loan and make DR's goverment deposit monthly payments at an undisclose account in Panama. Because this is in reality what happened except somebody did speak in his sleeps (Wistleblower).
I don't like the IMF, but I do have something personnal with this "Bratt".
But it's demeaning for a sovereign state to be reduced to this condition.
This is the same with the government, the more we say "I hate you cause of this and that" the worse the relationship becomes. This leads the politicians to believe that this is a futile relationship that wont last more than four years; which influences them to take advantage of the here and now. Instead, we should be more inquisitive and find out exactly what they're doing with our money.
Then the officials will realize that we really care and that their jobs are important to us--which will lead to a relationship that could end in marriage. So inquire, support, and make our boyfriend feel valuable.
and DO NOT support without being inquisitive, cause that'll also lead to a bad relationship.
It is more demeaning when you cant operate a country because you steal everything from the people and their childrens futures but why should I bother you with BS Abstractions when you want to spew your toxic hate?
~~~~Reality of the report~~~~~~