Valdez said that accumulated inflation to June was 0.89% and annualized inflation was 2.6% in the Dominican Republic. This is below the 5-5.5% inflation forecast for the entire year. He said that the Dominican Republic and countries in Central America have for the most part skirted the global economic crisis that affects the US and Europe. He said that actions need to be taken to avoid the impacts that would occur if the international crisis worsens.
He commented that a new Dominican Republic agreement with the IMF would need to be expansive and would seek to rationalize spending, improve government revenues and adjust the economy to its potential, seeking price levels that maintain aceptable inflation and exchange rates.