News World

The DR’s external public debt has increased by US$485 million, a 6.6% increase compared to September 2007, reports Diario Libre. The country’s total debt now stands at US$7.85 billion, according to reports filed by the Central Bank in the National Congress. Debt from multilateral organizations contracted, as well as bilateral funding agreements, accounting for 74.7% of the debt while debt with private financial entities totals 25.3%. Of this 25.3%, the greatest proportion corresponds to documented debts in Sovereign Bonds and Brady Bonds. According to this report, the evolution of the public sector foreign debt during the period January - September 2008 shows that for disbursements, the Dominican public sector received US$326.9 million more than in the same period in 2007, reaching US$1.12 billion for that period. This increase is due to two financial arrangements: One is Petrocaribe with Venezuela that increased substantially as a result of the high oil prices, [...]

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