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Thursday, January 20, 2011

Treasurer calls Dominican Republic’s US$10.7B debt “sustainable”

Dominican Republic’s foreign debt grew by US$2.5 billion in 2010, going from US$8.2 billion in 2009 to US$10.7 billion last December, revealed Treasury Minister Vicente Bengoa, who called it “sustainable,” noting that 97.1% of it is with multilateral, bilateral entities and bonds, because barely 2.9% is by private creditors, or US$310.4 million.

The official, speaking yesterday in the American Chamber of Commerce’s monthly luncheon, said the debt with multilateral organizations is US$4.2 billion, or 39.2%; the bilateral is US$4.1 billion, or 38%, and the bonds total US$2.1 billion, or 19.9%.

Bengoa added that Dominican Republic owes Venezuela the most, at US$1.9 billion; US$624 million to Brazil; US$395.3 million to Spain and US$315.5 million to the United States. Those four countries are owed 78% of the total bilateral debt.

Source: Dominican Today

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