Economy April 16, 2020 | 4:21 pm

Dominican Republic asks IMF for a quick US$650M

Santo Domingo.- Central Banker, Héctor Valdez Albizu, on Thur. said the Dominican Republic requested access to the rapid financing instrument for US$650 million from the International Monetary Fund (IMF), which will be disbursed next Thursday.

“I am pleased to report that the Central Bank formally requested access to the “rapid financing instrument” for some 650 million dollars for a term of three to five years and at a rate of 1.5%,” Valdez said in a web press conference.

“Due to good macroeconomic management, we deserve to make use of our quota (in the IMF) for 100% of it,” he said.

He added that the Federal Reserve of the United States will be asked to access the facility enabled by that entity to the central banks, “and we could access that amount from one to three billion dollars.”

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