On January 12, 2009, the Executive Board of the International Monetary Fund (IMF) concluded the first post-program monitoring review with the Dominican Republic. Directors welcomed the authorities' macroeconomic policy framework for 2009, aimed at rebalancing fiscal and monetary policies and positioning the Dominican Republic to weather well the sharp deterioration in the external environment.

 The prudent fiscal consolidation planned for 2009 should help relieve pressure on the external accounts and provide room for monetary easing. Directors supported the authorities' intentions to limit public expenditures to the likely constrained financing availability in order to sustain market confidence.

 Link: http://www.imf.org/external/np/sec/pn/2009/pn0906.htm