| Daily News - Tuesday, 09 November 2004 |
President Leonel Fernandez has requested congressional approval of several loans. These are:
US$37 million from the IDB for the construction of housing under the Instituto Nacional de la Vivienda; US$7.3 million to fund technical assistance for the power sector; US$12.5 from the World Bank to fund a technical assistance program for the financial sector; US$6 million from the IDB to strengthen the banking system and its supervision; and US$5.4 million to fund the Project for Institutional Development of the Information Society under the Technical Secretary of the Presidency.
Labor Minister Jose Ramon Fadul will take his time deciding on the validity of the National Salaries Commission resolution that recommends a wage increase for those earning above the legal minimum levels. Fadul, who is in Switzerland attending International Labor Organization meetings, said he would return to the DR on Thursday. While there is a 15-day period allotted in which a CNS resolution may be rejected, Fadul said there is no time limit set for the decision of the Ministry of Labor. The resolution establishes a 30% increase to the minimum wage and a 25% increase in wages for all workers earning up to RD$20,000 a month. The new scale was to have become effective 15 November, but its implementation has been put on hold until a decision is made by the minister.
Clave Digital, an online news service, writes that the considerable appreciation of the peso is convenient to government finances. The publication explains that the economic authorities are letting the peso climb in order to reduce the pesos needed to meet upcoming financial debt obligations in foreign currency. These include the filling of the RD$9 billion financial gap pending prior to the resuming of the stand by agreement with the International Monetary Fund no later than January. While the exchange rate market is not subject to controls in the DR, the government consistently has played it at convenience, as could be the case today.
The appreciation of the peso affects the competitiveness of exporters, including free zone manufacturers, and the tourism industry. As prices have not dropped in anyway near the same proportion as the peso has appreciated, goods and services in the DR are more costly for those with income in foreign currency. The appreciation of the peso also affects the hundreds of thousands of Dominicans and expatriates that depend on remittances.
From January to August 2004, the Dominican Republic exported goods and services to the United States worth US$2.8188 billion and imported US$2.9358 billion, for a favorable balance of US$117 million, reports El Caribe newspaper today. The newspaper explains that fewer goods were imported given the economic recession and the peso's depreciation, while exports increased slightly. The trade balance between the US and the DR favored the US in 2000, 2001 and 2002, years of economic slow-down in the US economy. The DR exports 85% of all its goods to the US. An additional 7.5% is exported to Europe and 1.5% to Asia. The US is also the source of 30% of all visitors and 80% of remittances from family members abroad.
The Customs Department reports the existence of a shipment containing another 50 freight containers that entered at the port of Haina Oriental that were supposedly holding raw materials being imported under Law 28-01 that grants special privileges for development along the Haitian border. As reported in the Listin Diario, the shipments were declared to contain raw material, but were discovered to hold machinery, air conditioners, fork lifts, and television systems, among other appliances. Customs is requiring that the importers reliquidate their accounts by paying all corresponding taxes. The border development law enables importers to bring in raw materials free of duties.
The plastic surgeon accused of involuntary manslaughter in the case of Dominican journalist Isabel Vargas, and who was also connected to the death of Puerto Rican Dhelmalys Rios in 1999, is once again making headlines as another of his patients dies. In 1999, following the unfortunate fatal outcome of a surgical procedure, he and his brother Juan Francisco Contreras were prohibited from practicing medicine in the DR. The Dominican Society of Plastic Surgeons has not accepted Edgar Contreras as a member because he does not meet the organization's minimum requirements and is known for unorthodox operating procedures.
Joseli Colon, the husband of the 26-year-old Puerto Rican who died of complications resulting from a fat implant in her legs, said at the time that he didn't care if Contreras went to jail or not. "My goal is that no one ever be operated by his hands or run the risk again." Apparently, this goal was not attained.
Now, 43-year-old Angeles Morel, who traveled from New Jersey for liposuction, died on Saturday from the operation that was carried out on 1 November. El Caribe newspaper consulted Edgar Contreras, who performed the surgery, but the physician said he would not give any details until the final forensic report becomes available at the end of the month. Contreras said that any hypothesis could damage a person's image without need. El Caribe says that the preliminary report from the National Institute of Forensic Pathology indicates that the woman died from an obstruction in her lungs due to a blood clot.
A contingent of 18 Dominican players (including one woman) and two managers will participate in the National Collegiate Athletic Association (NCAA) basketball league whose tournaments start Thursday in the United States. Hoy newspaper reports that for the first time six Dominicans will play on NCAA teams. These are Francisco Garcia (Louisville), Alfred Horford (Florida University), Manny Quezada (Rutgers), Ronald Ramon (Pittsburg), Cesar Chavez (Florida International), Chris Alvarez (Dayton) and Sugey Monsac (Robert Morris).
Playing for the National Association of Intercollegiate Athletics (NAIA) will be: Benito Flores (Wisconsin-Green Bay), Ivan Almonte (florida International), Franklin Penn (Buffalo), Eulis Baez (Western Illinois), Chris Brown (St. Francis), Ricky Soliver (Iowa), Rafael Madera (Delaware), Sammy Mejia (De Paul), Junio Matias (Florida International), Rodney Epperson (St. John's) and Adrian Sing (Brewton Parker College).
Reporting on the Dominican basketball players, Antonio Valdez of Hoy also notes that three Dominicans will appear on the rosters of Florida International University, marking another first for DR's basketball players.
Dominican pitcher and World Series champion Pedro Martinez told Hoy newspaper's Pappy Perez that his first choice for next year's season is to play in Boston. "Boston has my attention and that is why I am not talking about offers and have stayed away from the press, to avoid misinterpretations," he said. "If I do not play with Boston, which I wish to, then I would like to play with a manager that respects a pitcher as I am, someone like Felipe Alou, who is a father to me, Tony La Russa, Dusty Baker and all those baseball men that respect the work that has been carried out." Hoy says that other teams that have expressed an interest in Martinez are the New York Yankees, Anaheim Angels and the Los Angeles Dodgers, but they will need to wait until Thursday to make their offers to the three-time winner of the Cy Young award, who is now a free agent. To read about the Boston Red Sox offer to Pedro, see
http://www.boston.com/sports/baseball/redsox/articles/...
With the first two weeks of the season now played, the Aguilas Cibaenas lead the Dominican Winter Baseball Championship with 11 wins and only two losses. The Tigres del Licey and the Estrellas Orientales follow with seven wins and six losses. The Leones del Escogido trail six games behind the Aguilas, with five wins and eight losses, followed by the Azucareros del Este who have won four games and lost nine. In the Dominican league structure, it is important to remain among the first four teams in order to qualify for the January playoffs.
Several Major League players have already joined their local teams, and many more are expected to play in December, including Yankees' nemesis David Ortiz (Boston Red Sox).
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