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SANTO DOMINGO.- The Economy Minister announced on Monday that Dominican Government officials began the fourth revision in the Stand-By Agreement with the International Monetary Fund (IMF).
Temistocles Montas, after the meeting between the officials and IMF representatives, said the revision would allow the Government to obtain an additional disbursement of more than 117 million dollars, of a line of credit of US$1.72 billion approved in November 2009.
In that regard the IMF representative in the country, Alejandro Santos affirmed that Dominican Republic’s foreign debt has been moderate and only reaches 35% of the Gross Domestic Product, when in other countries in the region, such as Jamaica, exceeds 40%.
Santos however called on the Government to discontinue accruing further debts, and noted that so far it has been rational and still allows continued economic growth.
He added that the electrical subsidy must be reviewed to benefit the people who really need it and not those who can pay for it.
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How much interest do we pay on these loans?
Another misleading article. Yes the foreign debt is ONLY 39 % of our gross income. How much is the domestic debt? If the truth were to come out, which it never will, we probably pay more than 50% of our total income to service our debt.
This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
World Rank-------------------------------------GDP %
#61 ---------- Dominican Republic==== 42.40%
2009 est.
https://www.cia.gov/library/publi....-factbook/rankorder/2186rank.html
1 Zimbabwe 282.60
2 Japan 189.30
3 Saint Kitts and Nevis 185.00
4 Lebanon 156.00
5 Jamaica 124.50
6 Italy 115.20
7 Greece 113.40
8 Singapore 113.10
9 Iceland 107.60
10 Sudan 103.70
11 Belgium 97.60
12 Sri Lanka 86.70
13 Egypt 80.10
14 Israel 78.40
15 Hungary
78.00
16 France
77.50
17 Portugal
76.90
18
18 Canada
75.40
2009 est.
19 Germany
72.10
2009 est.
20 Malta
69.40
2009 est.
21 Austria
69.30
2009 est.
22 United Kingdom
68.10
2009 est.
23 Kenya
66.70
2009 est.
24 Jordan
64.40
2009 est.
25 Seychelles
63.20
2009 est.
26 Nicaragua
63.10
2009 est.
27 Netherlands
62.20
2009 est.
28 Cote d'Ivoire
61.90
2009 est.
29 Norway
60.60
2009 est.
30 Brazil
60.00
2009 est.
31 Mauritius
58.70
2009 est.
32 Philippines
58.70
2009 est.
33 Albania
58.10
2009 est.
34 India
58.00
2009 est.
35 Bhutan
57.80
2009
36 Ireland
57.70
2009 est.
37 Uruguay
56.60
2009 est.
38 Cyprus
56.20
2009 est.
39 World 56.00******************
2009 est.
40 Ghana
55.20
2009 est.
41 Morocco
55.10
2009 est.
42 United Arab Emirates
54.00
2009 est.
43 Malaysia
53.70
2009 est.
44 Vietnam
53.70
2009 est.
45 Spain
53.20
2009 est.
46 Tunisia
53.00
2009 est.
47 United States
52.90
2009 est.
48 El Salvador
52.70
20
For example in the Movie GOODFELLAS they were told " not to buy nothing" then here comes the idiot with the mink, then the idiot with the car.. This is what we should look for ..
Thank God I changed my citizenship..