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Central Bank withdraws RD$1.5-billion Yesterday the Central Bank of the Dominican Republic emitted RD$1.5 billion in certificates to local banking institutions. The plan to remove a similar amount from circulation is seen by most economists as an attempt to halt the devaluation of the Dominican peso that has fallen 5% in the past four days alone. Yesterday the dollar was quoted at RD$21.40 for cash, RD$21.60 for bank transfers, and RD$21.50 for checks in dollars. There was very little activity within the exchange markets with everyone awaiting the results of the Exchange Commission meeting. An accord to limit the exchange rate to RD$20.10 for cash and RD$20.40 for bank transfers fell through just a few days after going into effect. The new Monetary Code places a ban on exchange controls. |
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Violence against women The United Nations designated November 25th as the International Day of Non-Violence Against Women inspired by the infamous assassination of the three Mirabal sisters during the Trujillo dictatorship some 42 years ago. Agencies and NGOs nationwide commemorated the day with marches and public manifestations in support of an end to this violence. Amarilis Sanchez Baret, Deputy Minister for Women, said that so far this year 95 women have been killed by their husbands. Diario Libre reports that six women were killed during the non-Violence Week, including two women killed at the hands of their companions on the very same day meant to observe non-violence against women. The Listin Diario reports that 270 children have lost parents due to gender violence this year. |
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US Army to help patrol border with Haiti The Miami Herald reported yesterday on the pledged donation of 20,000 M-16 assault rifles, technical assistance and joint training maneuvers from the US Army to its Dominican counterparts in an effort to aid the patrol of the 300-kilometer long border with Haiti. The announcement comes at a time when political tensions and violence in Port au Prince have escalated to new highs. The US contribution is expected to follow the visit of Major General Alfred Valenzuela, commander of the Army south based in Puerto Rico, to the border. The Miami Herald says that Major General Carlos D’az Morfa, the head of the Dominican army, had invited Valenzuela to come and see for himself the difficulties encountered in keeping out the desperate migrants, drug traffickers, arms dealers and fugitives. "We know we have a problem. I wanted him to come and see for himself the difficulties we have with control.'' said Diaz. According to sources in Miami, this visit was prompted by a new, tougher policy from the Immigration and Naturalization Service to prohibit the movements of illegal or undocumented immigrants. An anonymous US official justified the aid, saying: ÒWe are beginning to think of the Caribbean as the third border (Canada and Mexico being the other two), as an area for moving drugs, moving money and as a high possibility for moving terrorism.Ó The Miami Herald, during past months, has reported that an average of 150 Haitians have been deported daily from the Dominican Republic. Over the past two years, more than 200 illegal immigrants from other countries have also been caught trying to cross the Dominican-Haitian border. This includes 90 Chinese, 15 Pakistanis, 15 Colombians and 8 Russians. The rifles are due to begin arriving in January, and soon after, as many as 900 US soldiers will begin a 15-day rotation "to participate in training exercises as well as to help build schools and clinics."With about 8,000 US troops participating in this exercise, this will be the largest such cooperative exchange between the two countries. See http://www.miami.com/mld/miamiherald/4598472.htm |
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US Ambassador confirms visa revocations Hans Hertell, the US Ambassador to the Dominican Republic, confirmed that the United States has revoked visas that had been issued to members of the Dominican government for reasons that involve money laundering, drug trafficking, and other corrupt activities. However, Hertell told reporters, he could not, by law, cite the names of the people implicated. As the ambassador was leaving a conference on "The Bleaching of Capital: Police Investigation and Financial Intelligence UnitsÓ, organized by the National Drug Council, he voiced his wholehearted approval of the new involvement of the US army at the border with Haiti. Furthermore, Hertell said the US government holds the Solicitor General of the Dominican Republic in the "highest respect" and that his government supports and is contributing to the investigation surrounding the "Pepegate" fraud case. Solicitor General Virgilio Bello Rosa has opposed the District Attorney's downgrading of the case against Pedro Julio Goico, former chief of the security force of President Hipolito Mejia, from "criminal" to "correctional". The supposed case of civilian credit card fraud against Baninter, a commercial bank, which has yet to press formal charges, was irregularly investigated by the Ministry of Armed Forces. Judge Nancy Joaquin is now reviewing the case to decide whether the correctional grade applies. By classifying the case as correctional, former security chief Pedro Julio (Pepe) Goico could possibly go free on bail. Interestingly, he is already free on bail due a 1997 case in which he was accused of participating in a RD$90-million number-rigging incident to bilk the National Lottery. El Caribe newspaper reports that lawyer Dionisio Bautista Castillo has said that the law on bail bonds does not permit a person free on bail to be granted bail a second time. |
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Acting President favors more investigation Vice President Milagros Ortiz Bosch, acting as President for the duration of President Mejia's visit to the Far East, said yesterday that the case for the RD$40-million fraud that involves three members of the Armed forces should have been investigated in more depth. She described the case as a "terrible crime," as reported in El Caribe. Vice President Ortiz is known to be less tolerant of corruption than many other members of her government. When the case of corruption at Bienes Nacionales was publicized while President Mejia was out of the country, she ordered the arrest of the director of the government property organization. Ortiz Bosch is seen as one of the strongest contenders for the PRD presidential candidacy for the 2004 elections. |
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Latin American Banks urge more legislation The president of the Latin American Federation of Banks, Archie Baldocchi, told his audience at the 36th Annual Meeting of FELABAN that regional legislation is needed to strengthen the banking systems in many countries. Because the banking systems are affected by systematic and institutional risks associated with dependency on the major world economies, the use of regional norms and criteria is increasingly necessary every day. Also speaking at the event taking place in Bavaro, Enrique Iglesias, the head of the Interamerican Development Bank, asked the assembly if the creation of a regional currency might help to solve the problems of convertibility and stability, and also assist in regional integration. He suggested that a common currency would work well in Mercosur countries and that this could serve as a model for the Andean countries and for Central America as well. Manuel Alejandro Grullon, head of the Banco Popular, spoke about the necessity of joining forces to create a banking community that is strong and fair. All three speakers emphasized the need for better legislation in the banking sector. |
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Big changes planned for generators EGE-Haina has announced that discussions to purchase Itabo for US$250-million are well underway. The sale of Itabo could mean a US$100-million windfall for the Dominican government, which owns 40% of Itabo. Both Julio Cross, the Superintendent of Power, and Cesar Suarez, the administrator of the Dominican Electricity Corporation (CDE), told reporters that the buy-out will not affect the government's participation in EGE-Haina, since 40% of the latter belongs to the Dominican Government. When the deal is finalized, EGE-Haina will constitute the largest electricity producer in the country, with 600 MW - approximately 50% of the total generation capacity. Also benefiting from the fusion of generators will be AES Corporation and El Paso energy. The workers at Itabo will receive 1% of the shares. |
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BWIA to fly to DR in March 2003 BWIA International Airways, the flag-carrier of Trinidad & Tobago (T&T), will commence flights to Santo Domingo this coming March 2003, according to a report by journalist John Collins. T&T Minister of Trade and Industry Kenneth Valley said that the new route is part of their expansion into Spanish-speaking countries. The airline will also introduce flights to Cuba and Costa Rica in 2003. Collins reports that experts in the aviation industry point out that BWIA's expanding service to the three Spanish-speaking countries will not in itself produce sufficient passenger volume to warrant it. However, there are indications that the potential advantage to BWIA of serving Havana, San Jose and Santo Domingo would be the traffic rights to provide increased flights from Europe and North America, which would in turn bring more passengers to these tourist destinations that are currently and rapidly growing. The D.R. it is actively encouraging Air Jamaica to commence service to Punta Cana and increase its connections with markets in the United Kingdom and the western U.S. with which it presently does not have direct flights. |
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Dominican dual nationality workshop The University of Miami is organizing a one-day symposium on "Dominican Dual Nationality: Implications for Politics, Community and Identity." There is no charge to attend, but reservations are necessary. The event is sponsored by the North-South Center of the University of Miami, the CUNY-Dominican Studies Institute (City College of New York) and the Dominican American National Roundtable. Representatives of the Dominican government, members of academia from both the US and the DR and leading community activists will be participating. The event is scheduled to take place on Friday, 6 December from 8:30 am to 5:30 pm at the John J. Koubek Memorial Center (Conference Room K-7) of the University of Miami. For reservations, please call 305-284-8921 or email Julio Rodriguez at boricua@compuserve.com |
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Days of El Gordo de la Semana numbered TV producer Freddy Beras Goico says that Sunday, 26 January will mark the closing show in his 28-year stint with the El Gordo de la Semana program, the TV variety show that is one of the longest-running shows in Dominican television history. Goico told El Caribe newspaper that he thought his decision over very carefully and is looking forward to spending a Sunday with his family. "For years I have not known what it is to eat on a Sunday with my family. I don't want to make more money, I have savings, and now it is time to enjoy my wife and children," he said. |
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Medal haul continues The Dominican Republic won three gold medals in karate yesterday at the Central American and Caribbean Games, taking place in El Salvador. The team medal count stands at 19 - far above all expectations. |
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