DR’s Central Bank meets Stand-By Arrangement commitments

The Central Bank of the Dominican Republic reported on 19 July 2016 that it has met all financial commitments with the International Monetary Fund (IMF) for the 2009 Stand-By Arrangement.

The DR government received a credit of US$1.7 billion, of which only US$1.19 billion had been disbursed.

The Central Bank had not met certain conditions imposed by the IMF to gain access to the entire credit package.

The Central Bank had not met certain conditions imposed by the IMF to gain access to the entire credit package.

Officials at the Central Bank reminded the press that the main objective of the agreement with the IMF was to jump start the nation’s recovery back towards macroeconomic stability and strengthen key sectors to stimulate economic for growth that had suffered due to the down turn in the economy during the 2007-2009 international financial crisis.

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