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Billions of dollars in bonds for road works
posted on: Mar 4 2010 9:3 by Royston. Viewed 125 times.
The Finance Minister, Vicente Bengoa said today that the billions of dollars in bonds submitted to Congress by the executive will be used in construction projects throughout the country and acquired at a rate below 9 percent.
He assured that this new government borrowing will not create more taxes; on the contrary, the resources will help accelerate the national economy.
Bengoa spoke as he left a meeting with the Senate Finance Committee where they discussed the proposed bond issue, which also sought to expedite the approval process as soon as possible.
The official said the funds will be used for asphalt works on the roads and would not affect the external debt, which he estimated at less than 20 per cent of GDP.
He noted that the bond issue is covered in the national budget and in accord with the International Monetary Fund (IMF) agreements.
Attending the meeting were congressmen Tommy Galán, Dionis Sánchez, Francis Vargas, René Canaán and Amílcar Romero.
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by jabambridge on Jul 18 2010 6:17 I'm glad that this possibility has occurred to at least by jabambridge on Jul 18 2010 6:16 I'm glad that this possibility has occurred to at least by jabambridge on Jul 18 2010 6:15 I'm glad that this possibility has occurred to at least by Yannick martin on Jul 9 2010 10:4 What about that lovely scenic road from Puerto Plata to by getthis on Jun 26 2010 10:22 i don't think a dozen staff will be enough and why is i |