IDB praises DR growth
During a luncheon meeting hosted in honor of President Fernandez in Washington, D.C. recently, the president of the Inter-American Development Bank (IDB), Luis Alberto Moreno praised the Dominican President's statesmanship skills, and said that in his estimation, Fernandez has been able to deal with the world economic crisis and maintain economic growth. During the event, the IDB announced a US$100 million grant for the Dominican Republic, which will be available to the government for humanitarian assistance in the event of a large-scale natural disaster.
In response to the cordial recognition, Leonel Fernandez said he endorsed the trend for public spending as a way of spurring economic growth. "The Dominican Republic has decided to promote government spending by taking on foreign debt with moderation, in line with the agreements with the International Monetary Fund that establishes a ceiling for indebtedness," he said in Washington.
The Secretary General of the Organization of American States, Jose Miguel Insulza also attended the lunch, which was hosted by the IDB.