New IMF loan for Dominican Republic
Published:Wednesday | October 7, 2009 | 1:36 PM
The Dominican Republic has reached an agreement in principle with the International Monetary Fund (IMF) for a US$1.7 billion loan.
The IMF says the loan will help the country work toward economic recovery.
Officials say the agreement must still be approved by the IMF board.
According to the Fund, Dominican authorities plan to reduce tax exemptions, improve banking supervision and introduce a new strategy for public debt management.