US embassy cable - 04SANTODOMINGO1088

UNCLAS SANTO DOMINGO 001088 
 
SIPDIS 
 
SENSITIVE 
 
DEPT FOR EB/OMA (WONG), WHA/CAR, WHA/EPSC; TREASURY FOR 
DO:RTOLOUI, LLAMONICA; PARIS FOR TREASURY ATTACHE 
 
E.O. 12958: N/A 
TAGS: EFIN, DR 
SUBJECT: DOMINICAN PARIS CLUB NEGOTIATOR WILL NOT VISIT 
CAPITALS 
 
REF: STATE 36743 
 
1.  DCM delivered talking points on Paris Club rescheduling 
and comparability of treatment for private sector creditors 
to Technical Secretary Carlos Despradel on February 20. 
Prior to discussing the non-paper Despradel emphasized that 
the GODR is determined to stick to the terms of the IMF 
program.  He told her that the GODR is working with J.P. 
Morgan and with New York law firm to determine a strategy for 
the discussions.  Central Bank technicians have provided the 
Paris Club with requested statistical data.  A preliminary 
meeting is scheduled for Feb 26 in preparation for the March 
2 talks. 
 
2.  Despradel commented that the IMF does not have a 
prescription on how to achieve the total of $300 million in 
debt relief from creditors required in the program.  In his 
view, &comparability of treatment8 remains to be determined 
in the negotiation.  He took exception to the content and the 
tone of the demarche.  He had been hoping, he said, that 
official bilateral partners would be willing to offer help in 
the negotiation.  Given the response, he will not travel to 
capitals to consult with bilateral creditors. 
 
 
 
 
HERTELL