Economy minister Temistocles Montas, Central banker Hector Valdez, IMF Managing director Dominique Strauss-Kahn and Bengoa celebrate the pact.
SANTO DOMINGO. - The first 300 million dollars stipulated in the Stand By agreement signed with the International Monetary Fund (IMF) were deposited last night in the Government’s account, Treasury minister Vicente Bengoa said Friday in the National Palace.
He said another 300 million dollars will enter the country via the Inter-American Development Bank (IDB) in the next 10 days. He said he’ll travel to Washington next Tuesday to negotiate the entry of another 300 million for the end of this month with the World Bank, for a total of 900 million dollars to be received.
Bengoa, speaking after a Friday morning meeting with president Leonel Fernandez, said US$230 million of the funds would be used to pay the debt with the electrical sector, which is expected to reduce the blackouts.
Although he didn’t specify the amount budgeted for 2010, he affirmed it will be more than this year’s RD$329 billion, and revealed that there’s a disbursement for wage increases, but didn’t mention if the doctors would benefit.
Written by: xwill7, 13 Nov 2009 3:26 PM
From: United States, El cuarto bate
your old past time blu? lol
From: United States
IMF = International MOOCHERS Fund....anyone got any pictures of a representative from the DR PAYING ANY MONEY BACK!!!!????
Written by: josean, 13 Nov 2009 4:24 PM
From: United States, Show your Love for DR Vote AGAINST the PLD!
The Financial Apocalypse gets closer to my beloved country!
From: United States
Oh my God. Please.
Why no anti-corruption clauses?
Send these screws to jail, if they hide one centavos.
From: Dominican Republic, vieja Santo Domingo
The only real concern that I have is the secretness of exactly where these funds will be used ..I like the idea of the bulk going to assist with the electrical problems but would like to know about the wage increases
Written by: Vivacuba, 13 Nov 2009 6:54 PM
From: Dominican Republic
The enslavement deal has been sealed and now delivered. Bye Bye DR. Sovereignty removed. UN & world bank assuming takeover control. Another example of a government (and the people)consolidated by the NWO.
From: Dominican Republic, vieja Santo Domingo
Vivacuba ,,on what basis can you make such a statement ,,there is absolutely no loss of sovereignty and there is no economic or political or social takeover ..all it is is borrowing money to fix the current problems which most writers here would prefer to continue rather than take the necessary financial steps to solve them
Written by: BASTA, 13 Nov 2009 9:33 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
Ricardolito, true but if ms fernandes had not stolen and puffed up the gov.payroll we would not need to borrow any money. She has killed our future.
Written by: Botemon, 13 Nov 2009 11:58 PM
From: Dominican Republic, La Isabella
josean
The Financial Apocalypse gets closer to my beloved country!
SNIP>> there is absolutely no loss of sovereignty and there is no economic or political or social takeover ..all it is is borrowing money to fix the current problems.
I don’t believe you can “borrow to fix” your way out of anything. The solution MUST come from within. If we were able / allowed, to READ the agreement(s) I am sure there are MANY strings attached. Those “strings” absolutely contribute to the “loss of sovereignty”. Socialism and “Cultural Marxism” is a by-product of this. Have you read the NAFTA agreement(s)? I have. It has nothing to do with “free trade”, not unlike THIS “deal” I’m sure. Only eventual total control. (We will have to find and read this agreement.).
On a smaller scale, if I keep giving money to my grown up child”, or friend, they WILL be back for more AND never understand and learn how to stand up on their own two feet! This is called “enabling”. When you inject corru
Written by: Botemon, 13 Nov 2009 11:59 PM
From: Dominican Republic, La Isabella
Continued.........
When you inject corruption to the mix…well you can see right here at home the outcome. Most all government today is “drunk on money” (and power). Leave me alone! I can take of myself just fine thank you! This is why I Love the Republic (Dominican) so much. We are responsible for ourselves and take care of each other!
Respectfully…………
From: United States, Fresh Water Paradise-NY Finger Lakes
Let the games begin! It really will be good for Dominican high-end car dealers.
Generally, the only time you see Dominicans in suits look this happy is when you are getting shafted, and I believe we are.
Our country is getting plundered, our sovereignty being lost bit by bit. Like Christ, we are being being betrayed by Judas Icarus-except he's been cloned. I see no immediate end to this practice, but some day there will be hell to pay-that's for sure! I just hope that somewhere, somebody is keeping tack of names, because we will need a list when judgment day arrives.
From: United States, Brooklyn
What did we have to give up in order to get these loans...
Written by: Vivacuba, 14 Nov 2009 3:32 AM
From: Dominican Republic
Ricardolito,.. "Botemon" sums it up clearly and thoroughly. The bottom line is eventual "total control" and I am sorry to report the entire western hemisphere appears to be sucked into this disaster by signing these enslaving forfeiture agreements with the world government mafia banksters lead of course by who other?,.. the USA under the guise of the U.N.
Written by: pelaut, 14 Nov 2009 9:08 AM
From: United States
BS. A "standby agreement" isn't cash in the bank for future spending.
The article reads like written by someone in the barrio.
From: Dominican Republic, vieja Santo Domingo
There is no basis in fact in what is being written here, the USA does not control the UN nor the IMF and has enough problems of it's own. Neither the UN nor the IMF has taken any political or ecomic control in the DR ,,and the DR is not getting plundered ..If it is to grow at any sort of pace it has to have borrowings because there is not a sufficient level of capital in the DR..if we do not borrow , we will continue to have eletrical problems and infra structure problems ..nearly every developing country in the world has had to borrow ,The level of debt to GDP is not at a frightening level and The power is still with the people who can elect whom they want .
Of course ,we all want to see efficiencies in the administration and a total reduction in corruption but we also want to see progress.
Written by: Grosero, 15 Nov 2009 11:56 AM
From: United States
It nice to see the Bagman made his drop
Written by: Botemon, 15 Nov 2009 6:18 PM
From: Dominican Republic, La Isabella
Hola Ricardolito!
The total "standby agreement" between the IMF and the DR is $1.7 billion. (Thats with a B!). divide this into the working population in the DR and you will soon see that just the interest payments will be hard to make.
http://www.imf.org/external/np/sec/pr/2009/pr09393.htmI understand your thinking, however there ARE other ways to get all this stuff done without selling our soul to the devil. Do your own research, but this may give you a different perspective. I wish I was making this stuff up, but I'm not. This is fact. Don't take my word on this, do your own research. The truth is out there!
http://www.youtube.com/watch?v=_xgxCf05KmwWritten by: Vivacuba, 16 Nov 2009 10:23 AM
From: Dominican Republic
The DEVIL it is!!! The IMF and UN "IS" controlled by the usa. NO if and or buts about it. Any independent thinking high schooler with a bit of research and intellect who isn't influenced by the US state run media can determine this. Heck the whole world knows this except the people living "IN" America.
Written by: juliony, 16 Nov 2009 12:19 PM
From: United States, New YOrk
Bengoa must be smiling with $300 million in his account....
The people of the DR are never going to see that money..Im just going to sit on the mesedora..and enjoy the breeze and my mojito. salud.. and congratulation a los Ladrones.
Written by: josean, 16 Nov 2009 11:08 PM
From: United States, Show your Love for DR Vote AGAINST the PLD!
Ricardolito,
Rick I know your still recovering, but here is another real concern for you:
Quality of debt questioned
Former Central Bank governor Carlos Despradel has expressed his concern about the government's continual increase of the foreign debt, as reported in Hoy. Speaking on the TV program Aeromundo, he said that as of June 2009 the DR's foreign debt totaled US$17 billion. He said that the goal in the long term is for the foreign debt to be 25% of the Gross Domestic Product, but with the recent loans the government has been taking, estimated at more than US$1.5 billion since the start of the second consecutive administration in August 2008, the ratio of debt and GDP could be 40%. He said that the greatest concern is that the loans that the government is undertaking will not generate wealth, meaning that no capacity to repay them will be created.
Source DR1
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Oh my God. Please.
Why no anti-corruption clauses?
Send these screws to jail, if they hide one centavos.
The Financial Apocalypse gets closer to my beloved country!
SNIP>> there is absolutely no loss of sovereignty and there is no economic or political or social takeover ..all it is is borrowing money to fix the current problems.
I don’t believe you can “borrow to fix” your way out of anything. The solution MUST come from within. If we were able / allowed, to READ the agreement(s) I am sure there are MANY strings attached. Those “strings” absolutely contribute to the “loss of sovereignty”. Socialism and “Cultural Marxism” is a by-product of this. Have you read the NAFTA agreement(s)? I have. It has nothing to do with “free trade”, not unlike THIS “deal” I’m sure. Only eventual total control. (We will have to find and read this agreement.).
On a smaller scale, if I keep giving money to my grown up child”, or friend, they WILL be back for more AND never understand and learn how to stand up on their own two feet! This is called “enabling”. When you inject corru
When you inject corruption to the mix…well you can see right here at home the outcome. Most all government today is “drunk on money” (and power). Leave me alone! I can take of myself just fine thank you! This is why I Love the Republic (Dominican) so much. We are responsible for ourselves and take care of each other!
Respectfully…………
Let the games begin! It really will be good for Dominican high-end car dealers.
Generally, the only time you see Dominicans in suits look this happy is when you are getting shafted, and I believe we are.
Our country is getting plundered, our sovereignty being lost bit by bit. Like Christ, we are being being betrayed by Judas Icarus-except he's been cloned. I see no immediate end to this practice, but some day there will be hell to pay-that's for sure! I just hope that somewhere, somebody is keeping tack of names, because we will need a list when judgment day arrives.
What did we have to give up in order to get these loans...
The article reads like written by someone in the barrio.
Of course ,we all want to see efficiencies in the administration and a total reduction in corruption but we also want to see progress.
The total "standby agreement" between the IMF and the DR is $1.7 billion. (Thats with a B!). divide this into the working population in the DR and you will soon see that just the interest payments will be hard to make.
http://www.imf.org/external/np/sec/pr/2009/pr09393.htm
I understand your thinking, however there ARE other ways to get all this stuff done without selling our soul to the devil. Do your own research, but this may give you a different perspective. I wish I was making this stuff up, but I'm not. This is fact. Don't take my word on this, do your own research. The truth is out there!
http://www.youtube.com/watch?v=_xgxCf05Kmw
The people of the DR are never going to see that money..Im just going to sit on the mesedora..and enjoy the breeze and my mojito. salud.. and congratulation a los Ladrones.
Rick I know your still recovering, but here is another real concern for you:
Quality of debt questioned
Former Central Bank governor Carlos Despradel has expressed his concern about the government's continual increase of the foreign debt, as reported in Hoy. Speaking on the TV program Aeromundo, he said that as of June 2009 the DR's foreign debt totaled US$17 billion. He said that the goal in the long term is for the foreign debt to be 25% of the Gross Domestic Product, but with the recent loans the government has been taking, estimated at more than US$1.5 billion since the start of the second consecutive administration in August 2008, the ratio of debt and GDP could be 40%. He said that the greatest concern is that the loans that the government is undertaking will not generate wealth, meaning that no capacity to repay them will be created.
Source DR1