Santo Domingo.- Dominican Republic’s economy will post the highest growth (5.5%) among Latin America nations, for which the International Monetary Fund (IMF) forecast specifically recognizes the handling of the economic and monetary policy, whereas for Central banker Héctor Valdez Albizu the projected growth figure is "a bit conservative."
He also affirmed that the program with the IMF doesn’t establish fiscal or electrical reforms and that if the IMF’s projected growth is higher than originally stated, and as it has been, it could bring a change of direction in the policy applied.
Valdez said things go as planned and whatever the final result for the year, it will be very good because it will be Latin America’s highest economic growth.
He said second quarter growth continues at the same pace as the first (7.5%), for which to reach the 5.5% the IMF forecasts, there would have to be a sharp downward change in the third quarter. He expects however, a growth of around 5.5% or higher.
From: Dominican Republic, No Spin Zone
Dread check your " Magic 8 Ball " and bring us up to date
From: United States
it is possible, given the increase in government revenue occasioned by higher taxes on everything, and the IMF loans. it is going to be financed by heavy deficit spending, as is evidenced by the 750 million dollar bond offering. so, there will be a lot of money in the hands of government, and most of the GDP increase will come in the form of government spending. more jobs for the boys, botellas, giveaways to politicians, and a lot of road construction contracts for the well connected party faithful. given the meltdown in europe, i expect a decline in euro visitors, and therefore a slackening of tourism revenue. the DR tourism industry will not benefit significantly from the jamaican debacle, since 75% of all jamaican tourism comes from the USA, and that market is not going to head here. the most important aspect of all this is that nothing will be better for the man in the street, as no planning is in place to improve his lot.
From: Dominican Republic, No Spin Zone
June 3 (Bloomberg) -- Jamaica is seeking $1 billion in loans and grants to rid the country of “cancerous” drug gangs that have taken over poor neighborhoods on the Caribbean island and hurt economic growth, Finance Minister Audley Shaw said.
Government officials met May 31 with representatives from the World Bank, Inter-American Development Bank, United Nations, the U.S. and European countries to seek funds to expand the police force and rebuild communities where drug lords have become de-facto governors, Shaw said today in a telephone interview. The violence can’t be allowed to continue, he said.
“It saps the energy of the country, it saps all productive capacity,” he said from Kingston. “Our investment partners have recognized that this government is demonstrating it knows how to deal with the crime problem.”
From: United States, Brooklyn
Dread, you forgot to mention the BP oil spill.... Canadians in lieu of Europeans, make pick up the slack... as the cuban beaches might come under threat of crude oil....
From: United States
very true, carlos.if cuba suffers, the dr benefits. and, blutarsky, would it be too much to ask you to stay on topic?
Written by: juanb, 4 Jun 2010 9:36 AM
From: Dominican Republic
Dread:
That $750million is gone according to yesterdays 7Dias:
El 6 de mayo, diez días antes de las elecciones, 7dias.com.do colocó una información dando cuenta de que el gobernador del Banco Central anunciaba que los 750 millones de dólares en bonos soberanos emitidos por el gobierno entraron ese día.
El día 25 de mayo, ya el gobierno había “invertido” 600 millones de dólares de dichos bonos, es decir, en 19 días “consumió” esa suma de dinero.
From: Dominican Republic, No Spin Zone
my humble apologies dread.....a thousand pardons
From: United States
gotcha, Blutarsky!
From: United States
so, juanb, in essence, the monies have already evaporated...nice going, Prez.
From: United States, I dont even live inside a house , I haunt one!
if the economy is growing , then why are the lights still going out and why corruption is still at a all time high
Written by: juanb, 4 Jun 2010 5:27 PM
From: Dominican Republic
It's a government official talking. How can anyone possibly lelieve him?
Written by: antonio1, 4 Jun 2010 7:54 PM
From: Dominican Republic, Av Santa Rosa, La Romana
Great news for our financial policies.....sad news for those that desire us that wrong.
From: Dominican Republic, Sabana Del Puerto
Who cares? This seems to have had no affect on the DR's poor standard of living.
From: United States
what financial policies are you talking about, antonio? you think that the guys here have invented a new economic philosophy? any country can raise its GDP with deficit spending. let me stop there, as i do not have all night to explain this to you.
From: Dominican Republic, No Spin Zone
Dread loan him your " Magic 8 Ball " that will explain everything
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Government officials met May 31 with representatives from the World Bank, Inter-American Development Bank, United Nations, the U.S. and European countries to seek funds to expand the police force and rebuild communities where drug lords have become de-facto governors, Shaw said today in a telephone interview. The violence can’t be allowed to continue, he said.
“It saps the energy of the country, it saps all productive capacity,” he said from Kingston. “Our investment partners have recognized that this government is demonstrating it knows how to deal with the crime problem.”
Dread, you forgot to mention the BP oil spill.... Canadians in lieu of Europeans, make pick up the slack... as the cuban beaches might come under threat of crude oil....
That $750million is gone according to yesterdays 7Dias:
El 6 de mayo, diez días antes de las elecciones, 7dias.com.do colocó una información dando cuenta de que el gobernador del Banco Central anunciaba que los 750 millones de dólares en bonos soberanos emitidos por el gobierno entraron ese día.
El día 25 de mayo, ya el gobierno había “invertido” 600 millones de dólares de dichos bonos, es decir, en 19 días “consumió” esa suma de dinero.