First my condolences to AZB. I have been absent from DR1 for quite a while. My computer was virused by e-mail monsters. Then the economic situation has made me spent more time handling my finances, which now have been totally dollarized.
I do not longer possess a single peso, which is not destined for purchasing minor items. The peso is dead in my budget and accounts. I do not possess more than $3000 or $5000 pesos at any time. It is worthless to continue to try to save this currency. I find it even dangerous to possess any amount exceeding that.
I have turned mostly to real estate holdings and have transfered money to the U.S. There is no sense in investing money in DR anymore. Hipolito Mejia has achieved the improbable.....ruining the Dominican Republic. I once stated that "even Hipolito could not stop the DR growth". I was wrong. He has!!!!
I bought a new penthouse in Gazcue and hope to move soon. I will continue to live in DR hoping for the best, but with my financial and economic "feet" deeply entrenched in South Florida.
A warning to those who want to invest in DR:stay away!!!!! This is not the time and probably not for the rest of 2004.
Golo
I do not longer possess a single peso, which is not destined for purchasing minor items. The peso is dead in my budget and accounts. I do not possess more than $3000 or $5000 pesos at any time. It is worthless to continue to try to save this currency. I find it even dangerous to possess any amount exceeding that.
I have turned mostly to real estate holdings and have transfered money to the U.S. There is no sense in investing money in DR anymore. Hipolito Mejia has achieved the improbable.....ruining the Dominican Republic. I once stated that "even Hipolito could not stop the DR growth". I was wrong. He has!!!!
I bought a new penthouse in Gazcue and hope to move soon. I will continue to live in DR hoping for the best, but with my financial and economic "feet" deeply entrenched in South Florida.
A warning to those who want to invest in DR:stay away!!!!! This is not the time and probably not for the rest of 2004.
Golo