Dominican Republic heads to IMF
Published:Monday | August 31, 2009 | 1:15 PM
The Dominican Republic is due to hold formal talks with the International Monetary Fund, IMF, this week aimed at securing US$1,500,000,000 in new assistance.
Over the weekend, the Dominican central bank announced a possible standby agreement with the IMF, the country\'s first in more than two and a half years.
On Friday, the Finance Minister, Vicente Bengoa, began preliminary talks with IMF officials in Washington.
The Dominican Republic has been hard hit by the global financial crisis, weak export earnings and remittances and recent declines in tourism.