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President Mejia travels to Taiwan President Hipolito Mejia arrived in Taipei over the weekend for a three-day stay, as part of his 10-day tour of the Far East. A ceremony at the Chiang Kai Shek Memorial Plaza was scheduled to officially welcome Mejia, with President Chen Sui-bian of Taiwan on hand to receive him. While there, his agenda will include a visit of the parliament and lunch with Legislative Speaker Yuan Wang Jin-pyng. Mejia is also expected to sign a memorandum that will enhance technological training in the Dominican Republic. The Diario Libre says that Mejia has visited Taiwan more than 20 times. |
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RD$240-million in car sticker revenues The government expects to reap RD$240-million from the sale of the 2003 vehicle stickers and AMET agents have been instructed to detain all drivers without the required decal as of Tuesday, 1 December. The sticker may be obtained in most banks and at the DGII offices. An estimated 900,000 vehicles, of which 450,000 are private, 27 are cargo, and 18,000 are public transport (i.e. ambulances, etc), are due to renew their 2003 stickers. There are also 1.5 million motorcycles on the streets, but the renewal date for these is separate from that of the larger vehicles. Reportedly, as of last Friday, 65% had purchased the sticker. |
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The next scandals Architect and deputy Alejandro Montas (PLD-National District) forecasts major scandals in the making in connection to the concessions granted by the Mejia government for the construction of a railway and major highways. Montas is a former president of the leading engineering and architectural association (Codia) and now presides over the commission of public works of the Chamber of Deputies. He said that the government has authorized concessions worth more than US$1-billion to lobbyists, rather than to well known, established builders, reports El Caribe newspaper. Montas says that the Mejia government has granted several major highways by concession: Santo Domingo-Samana, San Pedro de Macoris-La Romana, Santo Domingo-San Cristobal, San Cristobal-Bani and San Pedro de Macoris-Veron. With the exception of the Samana-Santo Domingo highway, none of the works has yet to get underway. Montas said the standstill in the construction is due to the fact that the budgets submitted to obtain the concessions were not based on any real numbers. In addition, Montas was critical of the Mejia government concession for the construction of the controversial Haina-Santiago train line. The contract was given to a company that has yet to build its first railway and whose principal executive, Jose Miguel Ventura Asilis, was recently indicted in Puerto Rico, where he resides, for fraud against the government there. Montas says that what should cause most concern about this concession is its broad scope. He said that while the local focus has been scrutinizing the construction of the Haina-Santiago railway, it pays little attention to the fact that the contract guarantees that all future railway development be handed to Ventura Asilis as well. “12 Dominican governments will not be able to develop any railway lines without negotiating with Ventura Asilis,” he explained. He also expressed his apprehension for the concession granted to Sercitec for southeastern highways. He explained that the contract signed by Minister of Public Works Miguel Vargas Maldonado is for a duration of 20 years, or US$1.5-billion. The highway itself cost RD$1.9-billion to build, was inaugurated only four months ago and came with a guarantee whereby the builders are responsible for maintaining the highway for several years. He says further that it is scandalous that the government should grant Sercitec the administration of the tolls of the Las Americas highway when that company did not invest a single cent into the construction of the tollbooths. He said that the contracts for the construction of Las Americas and the completed Autovia del Este include maintenance contracts and guarantees on behalf of the builders – in stark contrast with the generous concession granted to Sercitec. |
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One of three Siamese twins surviving In less than a week two pairs of Siamese twins have been born in Santo Domingo. Of the four, only one is still alive. She was separated from her sister, where they were joined at the genitals, at the Ramon de Lara Hospital of the Air Force, where she is recovering satisfactorily, according to medical reports. Her sister died shortly after the surgery to separate the infants. Earlier last week, another two twins died. They shared one heart. |
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Lack of confidence: the problem Three leading Dominican economists say that the lack of confidence in government policies, not market speculation, is what is fueling the run on the peso. The peso has declined 25%, dropping from 18 to 22 pesos to the dollar, over the last three months. Eduardo Garcia Michel of the Fundacion Siglo XXI, Pedro Silverio of Centro de Investigaciones Economicas de las Antillas and Father Jose Luis Aleman, director of the School of Economy of the Pontificia Universidad Catolica Madre y Maestra, as reported in Diario Libre, all favor an agreement signed by the Mejia government and the International Monetary Fund, so as to send a clear signal to the country that it is serious about reducing its spending. The IMF would disburse funds to finance the deficit in the balance of payments. In an interview with Hoy newspaper, Pedro Silverio, of the Cenantillas economic think tank, said, “Beyond thinking of the dollars an agreement with the IMF would bring to counter-arrest the problems with the balance of payments, it is important that the agreement send the right signal to the economic agents.” He explained, “The government can inject dollars, borrow abroad or place sovereign bonds and this will never be enough because of the generalized distrust of government economic policies.” He recommended the government attack the problem at its roots and restore credibility to the economic team. While President Mejia and members of his economic team have time after time promised to enact fiscal discipline, it has not been the case, thus resulting in the lack of confidence that has increased the demand for US dollars, as people convert their currency. Silverio recalled that the economic success of the 90s had much to do with the fiscal discipline that resulted from the agreement then-President Balaguer signed with the IMF. Eduardo Garcia Michel, who is also a member of the Monetary Board, indicated that the negative economic situation could still be reverted in a short time, but in order to do so the government needs to send clear signals, such as announcing true austerity in public spending. Such a policy could generate a budgetary surplus of 1 to 1.5% of the Gross Domestic Product. He also says that the Central Bank needs to remove from circulation the pesos that will result from the planned issuance of US$600-million in sovereign bonds. He said these measures could send to the markets the positive signals needed to improve the liquidity of the banking system and push down interest rates by some 8 points. Garcia feels that the government has practiced excessive borrowing, which has in turn contributed to the shrinking confidence levels of the markets. Father Jose Aleman, on the other hand, believes the government needs to increase its social spending and reduce capital investments. |
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The high cost of the bonds El Caribe newspaper points out that because the peso has devaluated almost 26% since the first bonds were placed in October 2001, the government will need RD$207-million more just to make interest payments on the issuance. When the bonds were first contracted, the exchange rate was under RD$17-US$1. The government will have to fork out US$47.5-million for the commitment. The Senate favors making another US$800 million placement in sovereign bonds. |
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Canada opens FTA discussions The Government of Canada is seeking the views of Canadians on the scope of a possible free trade agreement between Canada and the Dominican Republic. A 2 November publication in the Canada Gazette presents issues for discussion prior to the signing of the agreement. Opinions are sought on areas of export interest, including products for which the Dominican Republic should eliminate trade barriers. Also to be discussed are general rules of origin issues for specific products or sectors, trade facilitation issues, customs-related/immigration issues and general investment issues. Other matters are general cross-border trade in service industries and service sectors in the Dominican Republic that could be marked for further liberalization. The possible inclusion of a competition policy within the scope of the negotiations, environmental protection and labor rights are also being considered. See pages 8-11 at http://canada.gc.ca/gazette/part1/pdf/g1-13644.pdf All interested parties need to submit their views by 20 December 2002 to consultations@dfait-maeci.gc.ca. The consultations are overseen by the Department of Foreign Affairs and International Trade of the Government of Canada. Minister Counselor of the Dominican Embassy in Canada suggests that Dominican businessmen use the latter as a guideline for considerations required from a Dominican aspect. To contact Herrera, call Phone: (613) 569-9893 Ext. 228| Fax: (613) 569-8673 or email ministercounsellor@drembassy.org |
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Air Caraibe direct flight to St Marteen Air Caraibes announces it will debut operation of its direct flights to St Marteen on 16 December. The airline will be flying to St. Marteen three times a week (Monday, Wednesday and Friday) and will be employing a Jet Embraer 145 with capacity for 50 passengers. The flight takes will be of a duration of only 50 minutes. Flight TX 7864 will depart at 10:55 am and arrive in St Maarten (SXM) at 12 noon. The return flight TX 7865 departs at 12:40 pm and arrives in Santo Domingo at 1:45 pm. The flight has a promotional fare of US$220 plus taxes. |
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Mega-ports whittle down to two of four In 2001 four mega-port construction and remodeling projects were announced. In its Sunday issue, the Listin Diario points out that so far, of these, only two have gone through, one of which is the remodeling of the Haina port. In addition to Haina, construction is advancing at a fast pace at Caucedo, a US$300-million investment. According to Manuel Garmilla, general manager of CSX World Terminals, construction on the project is 20% completed. He said the port would be open for operation in November 2003 and would be fully operational by March 2004. The ports announced for San Pedro de Macoris (a US$170-million investment) in the southeast and Manzanillo (a US$400-million investment) in the northwest have yet to get underway. Teddy Heinsen, of the San Pedro mega-port, said the investors in that project backed down when Caucedo got a head start. The two projects are only a half-hour’s distance from each other. Regarding Manzanillo port in the northwest, a concession for a 10-year contract granted to the French group Balguerie in 2001 is also on hold. The report explains that local bureaucracy has delayed the project, however, it is rumored that the builders need the government to publish the port tariffs prior to continuing with the project. |
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Design minds to meet in Santo Domingo The Altos de Chavon Cultural Center Foundation is sponsoring the first international design conference on 6–7 December, 20002 in Santo Domingo at the Hotel Santo Domingo. A roster of international, award-winning graphic designers is to participate in the two-day conference titled “The Secrets of Successful Graphic Design”. A dozen specialists in the fields of creative design and art direction will be in Santo Domingo to share the outstanding achievements of their professional careers with students and designers. The speakers will be looking at solutions that have become the standards for the industry, the boundary-breakers, the classics, and the true milestones of the graphic design field, according to the organizers. The conference is being promoted as a rare insider’s view to the creative minds of master designers. Participating are: Felix Beltran (Mexico), corporate identity; Ivan Chermayeff (USA) corporate identity; Juan Carlos Fernandez, Mexico, branding; Manuel Estrada, Spain, branding; Armando Milani, Italy corporate and collateral design; Davide Nicosia, Italy, packaging and digital design; Alexa Nosal, USA, sequential design; Antonio Perez, Mexico, editorial design; Rafael Perez, Mexico, editorial design; Santiago Pol, Venezuela, posters design; Margin Solomon , USA, typography and creative design; Henry Wolf, USA, photography and creative direction; Lance Wyman, USA, environmental graphic design. Admission is RD$3,500 for the general public and RD$2,600 for students. For more information call 809 563-2802 or email casa@altosdechavon.com Also see http://www.altosdechavon.com |
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DR team excels in El Salvador The Dominican team surpassed the performance of the previous Maracaibo, Venezuela games by winning 75 medals during the first week of competitions. The team is optimistic it can break the all-time record of medals won by a Dominican delegation in the regional sports games. Over the weekend, the Dominican team reaped medals in equestrian events, judo, long jump, women’s basketball and men’s handball. The six gold medals won this weekend pushed the Dominican Republic up to 4th place in the standings with 18 gold, 21 silver, and 36 bronze medals. Countries in the lead are Mexico, Venezuela and Colombia. Cuba is not competing this year. |
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Cibao Eagles dump Licey Tigers Alberto Castillo (Yankees) had two hits including a fifth inning solo homerun to lead the Eagles to a 2-1 triumph, their 24th in 34 contests. Jose Acevedo (Detroit Tigers) pitched 6 innings striking out 7 to win his 4th game. Defending champion Licey is now 10.5 games back of Aguilas and 2.5 behind Escogido for the 4th and final playoff spot. |
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La Romana Bulls beat the Giants Luke Allen (LA Dodgers) knocked in 2 runs with a hit and a sacrifice fly to account for all the offense the Bulls would need to gain their 13th win. Doug Davis and Fernando de la Cruz combined on a 5-0 shutout of the Giants who now hold a slim 1/2 game lead for 3rd place ahead of Escogido. |
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Escogido Falls to Estrellas Failing to Gain Ground Jose Mercedes scattered 4 hits to win his 4th game in a 4-1 Oriental Star victory over the Lions of Escogido. Escogido (4th place) was hoping to gain on the two teams in front of them in the standings, but lost starter Jose Lima to a strained side muscle that flared up during warmups. Julio Lugo (Astros) had 3 hits and an RBI for the Stars. |
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