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Santo Domingo. – Hacienda minister Vicente Bengoa yesterday said the government can manage without an agreement with the International Monetary Fund (IMF) because there are no problems with the balance of payments.
He noted that it’s the business leaders who most promote the agreement, despite the organism’s conditions that include eliminating their tax incentives and exemptions in the chapter known as “tributary cost,” calculated at RD$104.0 billion this year,
Bengoa said the tributary cost is the third part of this year’s Budget which the government won’t collect because of those laws and incentives for the private sector, and which the IMF says aren’t justified.
Interviewed in the program “Economy and Policy” on Channel 21, Bengoa said the business leaders request an agreement with the IMF without tributary reform, “which is to say, that they want to reach the glory but don’t want to die.”
The official added that the IMF would demand the closing of the fiscal breach, but “the industrialists are going to say without taxes.”
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You are completely correct. They Leonel regiem does not want to show its books.
Showing the books would show how the money is diverted, washed to different bank accounts to the Caymans and Florida to relatives selling overpriced merchandise and services to the DR government.
All these guys have to be brilliant managers to bamboozle the IMF & WB so rationally andeget away with it. If they put that same expertixe into HONEST Government, this country would have the highest educational accomplishments, the BEST Medical facillities, Electricity 24/7 and POSITIVE balance of payments.
Look at how Poor China has cornered the World Credit and Export Markets in just 20 some odd years.
Don't you wish the DR would do something like that???
TexasBill
I Right now as a type do not have the books present for I am in my Condo.
BUT EVERYTIME we take a long or have too much outside investment we loose part of DR.
What are you worried about foreigners and drug traffickers own the DR anyways. It would probably be too much to expect the Dominicans to follow some simple rules anyways. If it wasn't for the massive corruption (which is tolorated and expected at every level) perhaps they wouldn't need so many loans.