DR government recognizes slowdown

~~~ Dominican government recognizes slowdown ~~~

Finance Minister Fernando Alvarez Bogaert has revised the forecast for this year’s growth from 6.5% to 3-4%. This is a drop from the 7.8% posted last year. He forecasts an inflation rate of 7% for 2001. The Minister attributed the drop in growth to high petroleum prices and the slow down of the US economy. Alvarez favors seeking new resources to activate the economy, mentioning the possibility of issuing sovereign bonds or the country taking additional international loans. President Mejia spoke up yesterday in favor of issuing bonds.

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". . . and the slow down of the US economy."

The USofA economy coughs, so DR economy catches cold, or something like that. Is there any chance that just maybe if you steal most everything in the National Treasury the República will become insolvent? ? ? Good thinking guys, borrowing your way to prosperity, what a CONcept. We certainly don't want the fateful cadre (campo) to miss out on any free lunches .

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. . . CES

link to the

They took over a balanced account - now they are cleaning out and jet have not enough, so they get bonds overseas to fill their pockets even more! In the same time public works are declining, hospitals half way finished and no end in sight of their termination! People having less to live from, taxes are increasing the daily costs, making everything more expensive also to tourists!

Who is going to stop that - the foreigners not willing to give gov. bonds? The people standing up against their president? I do not think so, to many private interests involved!

Hope there is something left after 3 years and 3 month!

Henry