SANTO DOMINGO.- The National Business Council’s (CONEP) warning of a “worrisome” economic downturn sparked an immediate response by the Central Bank, which challenged them to take a play active role in the use of credit to invigorate production. “It’s the private sector that should play a more active role, using these resources (credits) to finance their productive activities.”

In a statement the Central Bank, recognizing the business union’s statement that “the financial system has around 20.0 billion pesos available in the Central Bank, as a liquidity surplus,” and in a recent meeting with senior multiple bank executive stated, “its willingness to identify projects to continue channeling the resources available” for private initiative.

For this reason, the Central Bank said it praises CONEP’s statement regarding their sector “is ready to join efforts and thus break the vicious circle of low economic activity and reduction in the level of jobs.”

The Central Bank response comes after CONEP president Lisandro Macarrulla stated their concern with the economic downturn and urged a “fast reaction” by the authorities.