Monday, February 11, 2008

IMF & banks create bad press for Fernandez

Dominican Government violated norms with Sun Land loan, IMF says

Dominican Republic ratings placed on negative watch - S&P
February 11, 2008: 12:43 AM EST

BANGALORE, Feb. 11, 2008 (Thomson Financial delivered by Newstex) -- Standard & Poor's (NYSE:MHP) Ratings Services said it placed Dominican Republic's 'B+' long and 'B' short-term sovereign credit ratings on negative watch, citing uncertainty surrounding promissory notes due between March and July, including the possibility that they will not be paid because they were issued illegally.

The Dominican Republic has a history of poor debt management and lack of transparency, S&P noted....

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