DR is Undergoing Financial Woes

Dominican Republic´s external financing gap for 2004 may be US$50 million more than anticipated, a figure that corroborates earlier IMF remarks that suggested that its ongoing review of the country´s recent economic trends and performance pointed to a widening of the country´s estimated US$293-million financing gap.

Having received debt relief equivalent to US$193 million from the Paris Club (US$155 million in maturities coming due this year, plus US$38 million in arrears), a US$50-million increase in the country´s residual gap would bring the new total to US$150 million, the DR1.Com news service reports.