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IMF wants Government to increase electricity rates by 18%
posted on: Nov 10 2011 6:46 by The Reporter. Viewed 365 times.
The Government said yesterday that the International Monetary Fund (IMF) is asking the Dominican Republic to increase electric rates by 18%, as part of the agreement signed in 2009.
This was revealed the Minister of economy, planning and development, Themistocles Montás, who said that Dominican authorities are discussing this aspect with the international body, because there are some issues to be resolved.
The official said that there are certainly some difficulties with the agreement, but said that ithe agreement is still in place, and that proof of this is that the Government yesterday placed on the market US$ 250 million in bonds.
"The evidence that the agreement remains was the placement of the sovereign bonds on the markets. If there had been an issue then the bonds would not have been placed", explained the officer when interviewed by journalists in his Office at the National Palace after a meeting with representatives of the Inter-American Bank of development (IDB), the World Bank and other international agencies.
Montas accused the Dominican Revolutionary Party (PRD) of pointing to a failure, but he stated that this will not "happen". "The PRD has been betting on economic failure for seven years," he said.
He also said that in the next few days the Government will meet with the IMF to continue to discuss the situation, specifically the electrical matter and gave assurances that everything will be solved and "the Government publicly report the results of these discussions".
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