Santo Domingo.- A government delegation will visit Washington in two weeks for the first meeting with International Monetary Fund (IMF) officials, prior to Dominican Republic’ signing a Stand by agreement.
The delegation is formed by the government's economic team, headed by Economy minister Temistocles Montas, Finance minister Simon Lizardo, and Central banker Hector Valdez.
The delegation will leave for the U.S. on Monday, September 17, in the backdrop of government’s difficulties in dealing with domestic issues such as the more than US$1.0 billion owed to the power companies, which forced issuing a US$500.0 million bond and th search for an equal amount to pay the debt in full.
In addition to the bond, the government has to deal with a high fiscal deficit, which economists estimate at over RD$100.0 billion.
The government had planned to start talks with the private sector and civil society toward a fiscal pact Thursday, as stated in the National Development Strategy, but it was postponed by president Danilo Medina, to first consult with the IMF on the economic situation and hear its recommendations.
The situation of the fiscal deficit and its increase comes after ex president Leonel Fernández’s administration failed to forge a Stand-By Agreement with the IMF, and broken promises electricity rate increase made to the credit organization.
From: United States
that is a major part of the reason why 100 deputy ministers will be back to selling pica pollo.
Written by: josean, 3 Sep 2012 10:35 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
They are going to apologize on bended knees for not having kept the agreement so they could buy the election!
Written by: Atabey, 3 Sep 2012 11:32 AM
From: United States, NYC
I'm sure the Hippo would have done better, Josee. LOL
Written by: josean, 3 Sep 2012 11:47 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Nobody coulddo worse, except you, who got beat by his cab drivers in NYC!
Written by: vacanos, 3 Sep 2012 12:11 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace.
From: United States
vacanos, do not put your ignorance into full view. it is time that you grew up, learned something first, then spoke. did the DR not have to go to the IMF, and to devalue, during the Balaguer epoch? the fact that there has been a high degree of spending has nothing to do with whether the regime is liberal, or conservative. one question, vacanos..who built Faro a Colon, and why?
Written by: vacanos, 3 Sep 2012 12:26 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
When did Balaguer and the imf came to an agreement? Were you in the country in 1985?
Written by: vacanos, 3 Sep 2012 12:31 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
Roughly
Balaguer in 22 years only left ONE BILLION to the external debt.
Guzman in four years 1.74 Billion,
Jorge Blanco in four years 800 Million
Leonel Fernandez in 12 years 25 Billions
Hippo in four years 4 Billions
Written by: Spimx, 3 Sep 2012 12:42 PM
From: Canada
Maybe..
Written by: vacanos, 3 Sep 2012 1:01 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
It seen that your Google is having trouble. Let me help you here amigo I was living there at this time. The country after all the wasteful spending and borrowing by the liberal opposition of 1978-86 left the country vulnerable. Jorge Blanco signed an agreement with the IMF in 1983 and then waited until eastern week in April 1984 to isolate the populace from knowing his second accord with the IMF. These accord unknown to the people deepen the economic condition put it forward by the IMF and the sacrificed that the the Dominican people had to suffer from it. These led to thousand civilian killed in a mini-civil war.
Written by: vacanos, 3 Sep 2012 1:06 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Because of this uncertainty created by the PRD government Balaguer was elected president again in 1986 at the age 80 years old to restore peace and order. Balaguer made it clear to the IMF that he will not pay a single cent borrowed by Jorge Blanco if that money was not made accountable or followed by the IMF where the money went. Balaguer restored order and stability to the country in those difficult years. During this second stint by Joaquin Balaguer that lasted 10 years he did not accumulated almost nothing to the external debt of the country that led by the opposition to start their reckless spending once again.
Written by: juanb, 3 Sep 2012 2:40 PM
From: Dominican Republic
I can't wait until the IMF bails us out of our horrible financial condition so that the aholes can start cursing them out.
Nice to see the government humbly go, hat in hand, to plead for help.
Maybe if they weren't such incompetent thieves they wouldn't need it.
From: United States
hello, vacanos
The early to mid-1970s were known as the "miracle years." With sugar prices high, the Balaguer government borrowed heavily to finance extravagant public spending on infrastructure and monuments. The country’s level of indebtedness rose from $158 million in 1966 to $1.1 billion in 1978. (Ferguson, 1992) But there was no miracle for most Dominicans; the situation of the poor actually worsened in this period. When the international price of sugar and other primary commodities fell, and oil prices increases, a huge economic crisis ensued. Nature contributed to the debacle with Hurricane David in 1979, which killed at least 1,000 people and caused vast material damage.
if you have a problem with that recounting of history, take it up with the author. unlike you, i read before i blabber away.
Written by: josean, 3 Sep 2012 5:11 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Vacanos never let's facts get in the way of good lie!
Written by: vacanos, 3 Sep 2012 5:40 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
Prove me a liar and tell me which of the fact I gave you is false? You have to go out and google for 5 hour from someone that obviously had a liberal agenda against Balaguer. I dont have to google like you I know my stuff. Which you do not. That is a big difference. You dont know what you are talking about so you have to nitpicking from a foreigner like you with agenda that did not live in those era.
Tell me what is false?
the external debt by president?
Roughly
Balaguer in 22 years only left ONE BILLION to the external debt.
Guzman in four years 1.74 Billion,
Jorge Blanco in four years 800 Million
Leonel Fernandez in 12 years 25 Billions
Hippo in four years 4 Billions
"the IMF agreement with Jorge Blanco in 1983-84?"
"The thousands of death at the hand of the army during the mini civil war of Jorge Blanco? "
Written by: vacanos, 3 Sep 2012 5:51 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads "the Balaguer government borrowed heavily to finance extravagant public spending on infrastructure and monuments. The country’s level of indebtedness rose from $158 million in 1966 to $1.1 billion in 1978."
Really?
Did you know that a big chunck of his national budget went straight to the Agriculture sector. By late 70's the country could support itself from their basic diet.
Did you know that apart from the infrastructure the money he spent also went to the start of Tourism industry which as a visionary he saw the future of our country.
Did you know also that the money went to the shifting of the population from the energy source they used to get for cooking. As he gave free stove to the poor and subsidies the natural gas. He also started program to aliviate the lowest class like INESPRE.
Did you know that the money also went into atracting foreign investment into country from Golf & Western, Falcombridge, Rosario Resource, Phillips Morris, Shell Petro
Written by: vacanos, 3 Sep 2012 5:56 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads " (Ferguson, 1992) But there was no miracle for most Dominicans; the situation of the poor actually worsened in this period. "
The Dominican miracle was real opposed to your liberal foreigner "author" trying to push down balaguer great achievement. The country's economy grew at a pace of 8% from 1966 to 1974 the best in the world. This was the only time in our country when regular Dominican could afford a brand new vehicle like my father did in 1977 and build a new house.
The situation worsened in this period LOL You are in the country talk to people that lived during this period dont put your brain into foreigner that did not set a foot in the country.
Dreads this was the time when the first Dominican middle class was created. And the situation worsened in this period LOL
Written by: vacanos, 3 Sep 2012 6:07 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Josie "Vacanos never let's facts get in the way of good lie!"
Your daily copy/paste communist source Acento is right on fact, riiiight.
From: United States
vacanos, do you understand what the word " epoch" means? besides, have you ever heard of the term CONSUMER PRICE INDEX? know what it means? know how to calculate it? before you go telling me about the 1.1 billion, go learn some basics, and we can discuss the external debt. as i said, your condescending little attempts to draw a comparison between our relative states understanding in this matter is sheer ignorance, on your part. i hate having to make this reference, but, with sabelotodos like you in this site, i am forced to. i have graduate degrees in development economics, and a graduate diploma from the World Bank Institute. when you have more than a semester in some community college, come back, and we can talk.
Written by: vacanos, 3 Sep 2012 6:14 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
Prove me a liar and tell me which part I gave you was false
Written by: synapse, 3 Sep 2012 6:17 PM
From: United States
Off again to beg for more money they will squander on themselves!
Have they no shame?
From: United States
do not try your lame little 5th grade tricks with me, vacanos. i asked you a question. to that, educated people usually give an answer. save the chopo nonsense for your circle of acquaintances. let us try this again
DO YOU KNOW WHAT THE CONSUMER PRICE INDEX IS, AND HOW TO CALCULATE IT.? the answer is either yes, or no. try again.
Written by: vacanos, 3 Sep 2012 6:36 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
The only one drowning in a glass of water is you. The initial debate was how fiscal conservative our head of state has been thru the years. I know that economy is your pep hobby. You cannot change the number so stop trying to bring some hypothesis of yours. The number is there how much they borrowed and spent thru the years and what the country gained in return.
Written by: josean, 3 Sep 2012 6:39 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Shame is not in their vocabulary!
From: United States
i take your answer to mean that you cannot answer the question. nice try, though. for a guy with a big yap, you should have answered it , right away. when you start making your little witty remarks, remember that i have been around this matter long before you, and i know far more than you do.
From: United States
vacanos, economics is not my hobby. when i was younger, and could still handle the mental gymnastics of econometric modelling, i was a development economist. i have lost the edge, but am still way ahead of you.
Written by: vacanos, 3 Sep 2012 6:49 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads
I gave you number for you to have fun with. It is obvious you didnt and want to bring your theory to prove that you are right. Nice try. Look at my original post right on the money.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace. "
From: United States
you win, vacanos. want a cookie, now?
Written by: vacanos, 3 Sep 2012 6:58 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Ask any Dominican here that understand our history. Go ask Generoso who is probably the best Dominican historian here on the site about Balaguer "fiscal conservative" you trust him and he have no love for Balaguer. Balaguer gave us our ecosystem which is the largest in central American and the Caribbean in which he saved with his drastic policy. He built the country after the civil war while spending the very minimun. Created a reboust middle class in the 70's. There is so many thing he did right that you can find from Balaguer and almost nothing from the libs opposition that is really comical that you have the nerve to debate this true statement.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace. "
From: United States
vacanos, let me help you with your education, and i wont even charge you. free internet lessons.
1..you cannot simply comment on the number during Balaguer, and the numbers later down the road. a billion in 1970 is not the same as a billion today. that is why i asked you if you understood the concept of CPI, and how to calculate the value of money over time
2..you have to calculate the debt in both government debt, and sovereign debt. you have never given me a breakout.
3..you have never given me the repayment terms on the debt then, and the debt now
4..you have to examine the debt in relation to the GDP, and look at the relative current account deficits
5..you have to look at the economic conditions of the era, such as commodity prices at each period in time, in order to determine the ability of the country to repay the loan
that is enough for one lesson. anything else will be billed.
Written by: vacanos, 3 Sep 2012 7:09 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads "1..you cannot simply comment on the number during Balaguer, and the numbers later down the road. a billion in 1970 is not the same as a billion today. that is why i asked you if you understood the concept of CPI, and how to calculate the value of money over time"
Balaguer only built and reform the country after the civil war if you are not familiar with our country. There is so much he did in the 70's like creating the tourist industry, reforming the agriculture sector, foreign investments, ect.
What about a Billion in 4 years 1978-1982 and nothing to show for?
or 800 Millions by Jorge Blanco in four years 1982-1986.
Balaguer only spent 180 Millions from 1986-1996 to the country external debt. That is TEN years and into the mid 90's. Go do the math. Let me know on your experiment.
From: United States
says vacanos
Balaguer only spent 180 Millions from 1986-1996 to the country external debt.
what does that sentence mean?
Written by: vacanos, 3 Sep 2012 7:41 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
From 1986-96 he left180 Millions toward the country's external debt.
From: United States
Written by: vacanos, 3 Sep 2012 7:41 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
From 1986-96 he left180 Millions toward the country's external debt.
forgive me for not understanding what you mean. i have no idea. do you mean that in 10 years he only added 180 million to the debt?he only borrowed 180 million, in 10 years? if that is so, then he was only borrowing, on average, 18 million per year. that is not believable. show me a document that says so.
Written by: vacanos, 3 Sep 2012 9:10 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads "you mean that in 10 years he only added 180 million to the debt?"
Exactly
Written by: vacanos, 3 Sep 2012 9:33 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
"En el gobierno de Joaquín Balaguer. En 1978 la deuda era de US$1,353 millones. Ya en 1982 en el gobierno de Jorge Blanco la deuda del momento aumento a US$2,923 millones y siguió aumentando hasta llegar a US$3,810 millones para 1986. Ya en el 1996 empezando el gobierno de Leonel Fernández la deuda había aumentado a US$3,994 millones"
.arqhys.com/general/deuda-publica.html
Dreads this article is stating that when Balaguer left the external debt to the PRD in 1978 it was at $1,353 Billion. Antonio Guzman left the debt at $2,923 in 1982. Salvador Jorge Blanco left the debt at $3,810 in 1986 and finally Balaguer left the debt at 3,994 to Leonel Fernandez in 1996.
To be more precise the government of Balaguer added $184 Millions to the debt in 10 years.
From: United States
first of all , vacanos, in order to make these assertions, you need to have a concept of the difference between a million, and a billion.in 1978, the debt could not possibly have been 1353 billion. secondly, let us assume that it was. please give me the figure of what the national debt was in 1968. you need to stop confusing millions with billions, and you might get a clearer picture.
Written by: josean, 4 Sep 2012 7:38 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Vacanos is still working on using silverware or his hands!
From: United States
he has just about gotten to the point where he has the flush toilet figured out.
Written by: vacanos, 4 Sep 2012 9:49 AM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads "first of all , vacanos, in order to make these assertions, you need to have a concept of the difference between a million, and a billion.in 1978, the debt could not possibly have been 1353 billion. secondly, let us assume that it was. please give me the figure of what the national debt was in 1968. you need to stop confusing millions with billions, and you might get a clearer picture."
It is just amazing how fast you can change a topic. First you could not believe that Balaguer only added 180 MILLIONS NOT BILLION TO THE EXTERNAL DEBT. I gave you prove and now you jumping into another topic. Stay on topic PLEASE.
Do you want another source?
Written by: vacanos, 4 Sep 2012 10:07 AM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Para el 1978 la deuda externa global era de US$1,353 millones.
7.LA DEUDA EXTERNA EN EL GOBIERNO DE DON ANTONIO GUZMÁN FDEZ. (1978-1982):
8.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. SALVADOR JORGE BLANCO. (1982-1986):
Para este periodo, la deuda externa global dominicana tuvo un crecimiento sostenido, al pasar de US$2,923 millones en el 1982 a US$3,810 millones en el 1986.
El desequilibrio que experimento la economía tanto a lo interno como lo externo en este periodo llevo a las autoridades a firmar un acuerdo con FMI, en el año 1983.
1.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. JOAQUÍN BALAGUER. (1986-1996):
En el año 1986, el Dr. Balaguer encontró la deuda externa en 3,810 millones de dólares.
1.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. LEONEL FERNÁNDEZ REYNA. (1996-2000):
El gobierno del Dr. Leonel Fernández encontró en el año 1996 una deuda externa de US$3,994
.monografias.com/trabajos24/deuda-externa-dominicana/deuda-externa-dominicana.shtml
Written by: vacanos, 4 Sep 2012 10:09 AM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
1.353 BILLION. MEAN ONE BILLION THREE HUNDRED AND FIFTY THREE MILLIONS.
You know what that number meant but knowing you after showing you prove you wanted to change the subject.
From: United States
vacanos, there is no point discussing this any further. it is obvious that you are hopelessly confused, and i will not permit you to confuse me, too.
From: United States
let me attempt, one more time, to give you online education. this is your free allocation for today. the fact that the external debt in 1996 was only 180 million more than it was in 1996 does not mean that he only added 180 million..here is how debt works
1..YOU BORROW MONEY
2...YOU PAY IT BACK.
see where this is headed? so, what the figures do not tell is how much he borrowed, and how much he paid back. so here is the illustrative exercise..
1..let us say that in 1986 he encountered a debt of 100 million
2..between 1986 and 1990, he borrowed another 100 million
3..in 1991, he payed back 100 million
4..now he is back to 100 million in debt, just like he was in 1986.
by your logic,between 1986 and 1991, he never borrowed anything, since the figures are the same for both years
any further tuition will be billed by the hour.
Written by: josean, 4 Sep 2012 11:49 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Dr. Dread easy this is painful to watch, plus you cloud be accused of child mental abuse!
Written by: vacanos, 4 Sep 2012 12:09 PM
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
Dreads "the external debt in 1996 was only 180 million more than it was in 1996 does not mean that he only added 180 million..here is how debt works"
LOL
The external debt in 1996 was only 180 Millions more than in 1986 under 10 years of Balaguer. I was trying to educate you on the history of spending by the liberals in our country. It seen that your brain is of no use. I was trying to educate you also of the money spent by Balaguer where it went but you are too stuck in your liberal brain.
My statement below is as accurate as your peabrain.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace."
From: United States
vacanos, if my example is too complicated for you to understand, stop by the local junior high school tomorrow, and ask a 5th grader to explain it to you.
From: United States
vacanos, stick to jugando gallo. there are two things here that you do not understand.
1..EXTERNAL DEBT
2..MATHEMATICS
we cannot debate this matter when you have those two deficiencies.
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They are going to apologize on bended knees for not having kept the agreement so they could buy the election!
I'm sure the Hippo would have done better, Josee. LOL
Nobody coulddo worse, except you, who got beat by his cab drivers in NYC!
To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace.
Dreads
When did Balaguer and the imf came to an agreement? Were you in the country in 1985?
Roughly
Balaguer in 22 years only left ONE BILLION to the external debt.
Guzman in four years 1.74 Billion,
Jorge Blanco in four years 800 Million
Leonel Fernandez in 12 years 25 Billions
Hippo in four years 4 Billions
Dreads
It seen that your Google is having trouble. Let me help you here amigo I was living there at this time. The country after all the wasteful spending and borrowing by the liberal opposition of 1978-86 left the country vulnerable. Jorge Blanco signed an agreement with the IMF in 1983 and then waited until eastern week in April 1984 to isolate the populace from knowing his second accord with the IMF. These accord unknown to the people deepen the economic condition put it forward by the IMF and the sacrificed that the the Dominican people had to suffer from it. These led to thousand civilian killed in a mini-civil war.
Because of this uncertainty created by the PRD government Balaguer was elected president again in 1986 at the age 80 years old to restore peace and order. Balaguer made it clear to the IMF that he will not pay a single cent borrowed by Jorge Blanco if that money was not made accountable or followed by the IMF where the money went. Balaguer restored order and stability to the country in those difficult years. During this second stint by Joaquin Balaguer that lasted 10 years he did not accumulated almost nothing to the external debt of the country that led by the opposition to start their reckless spending once again.
I can't wait until the IMF bails us out of our horrible financial condition so that the aholes can start cursing them out.
Nice to see the government humbly go, hat in hand, to plead for help.
Maybe if they weren't such incompetent thieves they wouldn't need it.
The early to mid-1970s were known as the "miracle years." With sugar prices high, the Balaguer government borrowed heavily to finance extravagant public spending on infrastructure and monuments. The country’s level of indebtedness rose from $158 million in 1966 to $1.1 billion in 1978. (Ferguson, 1992) But there was no miracle for most Dominicans; the situation of the poor actually worsened in this period. When the international price of sugar and other primary commodities fell, and oil prices increases, a huge economic crisis ensued. Nature contributed to the debacle with Hurricane David in 1979, which killed at least 1,000 people and caused vast material damage.
if you have a problem with that recounting of history, take it up with the author. unlike you, i read before i blabber away.
Vacanos never let's facts get in the way of good lie!
Prove me a liar and tell me which of the fact I gave you is false? You have to go out and google for 5 hour from someone that obviously had a liberal agenda against Balaguer. I dont have to google like you I know my stuff. Which you do not. That is a big difference. You dont know what you are talking about so you have to nitpicking from a foreigner like you with agenda that did not live in those era.
Tell me what is false?
the external debt by president?
Roughly
Balaguer in 22 years only left ONE BILLION to the external debt.
Guzman in four years 1.74 Billion,
Jorge Blanco in four years 800 Million
Leonel Fernandez in 12 years 25 Billions
Hippo in four years 4 Billions
"the IMF agreement with Jorge Blanco in 1983-84?"
"The thousands of death at the hand of the army during the mini civil war of Jorge Blanco? "
Really?
Did you know that a big chunck of his national budget went straight to the Agriculture sector. By late 70's the country could support itself from their basic diet.
Did you know that apart from the infrastructure the money he spent also went to the start of Tourism industry which as a visionary he saw the future of our country.
Did you know also that the money went to the shifting of the population from the energy source they used to get for cooking. As he gave free stove to the poor and subsidies the natural gas. He also started program to aliviate the lowest class like INESPRE.
Did you know that the money also went into atracting foreign investment into country from Golf & Western, Falcombridge, Rosario Resource, Phillips Morris, Shell Petro
The Dominican miracle was real opposed to your liberal foreigner "author" trying to push down balaguer great achievement. The country's economy grew at a pace of 8% from 1966 to 1974 the best in the world. This was the only time in our country when regular Dominican could afford a brand new vehicle like my father did in 1977 and build a new house.
The situation worsened in this period LOL You are in the country talk to people that lived during this period dont put your brain into foreigner that did not set a foot in the country.
Dreads this was the time when the first Dominican middle class was created. And the situation worsened in this period LOL
Josie "Vacanos never let's facts get in the way of good lie!"
Your daily copy/paste communist source Acento is right on fact, riiiight.
Dreads
Prove me a liar and tell me which part I gave you was false
Off again to beg for more money they will squander on themselves!
Have they no shame?
DO YOU KNOW WHAT THE CONSUMER PRICE INDEX IS, AND HOW TO CALCULATE IT.? the answer is either yes, or no. try again.
Dreads
The only one drowning in a glass of water is you. The initial debate was how fiscal conservative our head of state has been thru the years. I know that economy is your pep hobby. You cannot change the number so stop trying to bring some hypothesis of yours. The number is there how much they borrowed and spent thru the years and what the country gained in return.
Shame is not in their vocabulary!
Dreads
I gave you number for you to have fun with. It is obvious you didnt and want to bring your theory to prove that you are right. Nice try. Look at my original post right on the money.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace. "
Ask any Dominican here that understand our history. Go ask Generoso who is probably the best Dominican historian here on the site about Balaguer "fiscal conservative" you trust him and he have no love for Balaguer. Balaguer gave us our ecosystem which is the largest in central American and the Caribbean in which he saved with his drastic policy. He built the country after the civil war while spending the very minimun. Created a reboust middle class in the 70's. There is so many thing he did right that you can find from Balaguer and almost nothing from the libs opposition that is really comical that you have the nerve to debate this true statement.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace. "
1..you cannot simply comment on the number during Balaguer, and the numbers later down the road. a billion in 1970 is not the same as a billion today. that is why i asked you if you understood the concept of CPI, and how to calculate the value of money over time
2..you have to calculate the debt in both government debt, and sovereign debt. you have never given me a breakout.
3..you have never given me the repayment terms on the debt then, and the debt now
4..you have to examine the debt in relation to the GDP, and look at the relative current account deficits
5..you have to look at the economic conditions of the era, such as commodity prices at each period in time, in order to determine the ability of the country to repay the loan
that is enough for one lesson. anything else will be billed.
Balaguer only built and reform the country after the civil war if you are not familiar with our country. There is so much he did in the 70's like creating the tourist industry, reforming the agriculture sector, foreign investments, ect.
What about a Billion in 4 years 1978-1982 and nothing to show for?
or 800 Millions by Jorge Blanco in four years 1982-1986.
Balaguer only spent 180 Millions from 1986-1996 to the country external debt. That is TEN years and into the mid 90's. Go do the math. Let me know on your experiment.
Balaguer only spent 180 Millions from 1986-1996 to the country external debt.
what does that sentence mean?
From 1986-96 he left180 Millions toward the country's external debt.
From: United States, An appeaser is one who feeds a crocodile, hoping it will eat him last.
From 1986-96 he left180 Millions toward the country's external debt.
forgive me for not understanding what you mean. i have no idea. do you mean that in 10 years he only added 180 million to the debt?he only borrowed 180 million, in 10 years? if that is so, then he was only borrowing, on average, 18 million per year. that is not believable. show me a document that says so.
Dreads "you mean that in 10 years he only added 180 million to the debt?"
Exactly
"En el gobierno de Joaquín Balaguer. En 1978 la deuda era de US$1,353 millones. Ya en 1982 en el gobierno de Jorge Blanco la deuda del momento aumento a US$2,923 millones y siguió aumentando hasta llegar a US$3,810 millones para 1986. Ya en el 1996 empezando el gobierno de Leonel Fernández la deuda había aumentado a US$3,994 millones"
.arqhys.com/general/deuda-publica.html
Dreads this article is stating that when Balaguer left the external debt to the PRD in 1978 it was at $1,353 Billion. Antonio Guzman left the debt at $2,923 in 1982. Salvador Jorge Blanco left the debt at $3,810 in 1986 and finally Balaguer left the debt at 3,994 to Leonel Fernandez in 1996.
To be more precise the government of Balaguer added $184 Millions to the debt in 10 years.
Vacanos is still working on using silverware or his hands!
It is just amazing how fast you can change a topic. First you could not believe that Balaguer only added 180 MILLIONS NOT BILLION TO THE EXTERNAL DEBT. I gave you prove and now you jumping into another topic. Stay on topic PLEASE.
Do you want another source?
Para el 1978 la deuda externa global era de US$1,353 millones.
7.LA DEUDA EXTERNA EN EL GOBIERNO DE DON ANTONIO GUZMÁN FDEZ. (1978-1982):
8.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. SALVADOR JORGE BLANCO. (1982-1986):
Para este periodo, la deuda externa global dominicana tuvo un crecimiento sostenido, al pasar de US$2,923 millones en el 1982 a US$3,810 millones en el 1986.
El desequilibrio que experimento la economía tanto a lo interno como lo externo en este periodo llevo a las autoridades a firmar un acuerdo con FMI, en el año 1983.
1.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. JOAQUÍN BALAGUER. (1986-1996):
En el año 1986, el Dr. Balaguer encontró la deuda externa en 3,810 millones de dólares.
1.LA DEUDA EXTERNA EN EL GOBIERNO DEL DR. LEONEL FERNÁNDEZ REYNA. (1996-2000):
El gobierno del Dr. Leonel Fernández encontró en el año 1996 una deuda externa de US$3,994
.monografias.com/trabajos24/deuda-externa-dominicana/deuda-externa-dominicana.shtml
You know what that number meant but knowing you after showing you prove you wanted to change the subject.
1..YOU BORROW MONEY
2...YOU PAY IT BACK.
see where this is headed? so, what the figures do not tell is how much he borrowed, and how much he paid back. so here is the illustrative exercise..
1..let us say that in 1986 he encountered a debt of 100 million
2..between 1986 and 1990, he borrowed another 100 million
3..in 1991, he payed back 100 million
4..now he is back to 100 million in debt, just like he was in 1986.
by your logic,between 1986 and 1991, he never borrowed anything, since the figures are the same for both years
any further tuition will be billed by the hour.
Dr. Dread easy this is painful to watch, plus you cloud be accused of child mental abuse!
Dreads "the external debt in 1996 was only 180 million more than it was in 1996 does not mean that he only added 180 million..here is how debt works"
LOL
The external debt in 1996 was only 180 Millions more than in 1986 under 10 years of Balaguer. I was trying to educate you on the history of spending by the liberals in our country. It seen that your brain is of no use. I was trying to educate you also of the money spent by Balaguer where it went but you are too stuck in your liberal brain.
My statement below is as accurate as your peabrain.
"To put it kindly the libs running our country has been brutal, from SPENDING, thievishness, social unrest, haitian's problem among other plague. Twenty four years of ill treatment to the populace."
1..EXTERNAL DEBT
2..MATHEMATICS
we cannot debate this matter when you have those two deficiencies.