Morning all, seen the exchange rate? Dollar has dropped to the magic 40 - yes 40 pesos to the dollar. Have I missed something? Perhaps Bear Sterns have said the national debt has been waived, perhaps all the international big money players are going to invest billions to rebuild the countries infrastructure overnight, perhaps all the hospitals are fully stocked and the staff have actually been paid, perhaps all the electricity supply will now and always be 24/7.
I know for a fact that shop and restaurant prices have started to tumble to reflect the "new mood" and lower exchange rates which are filtering through the economy - yeah right!
Oh! and as opposed to the rest of the world, the DR is also to be given an unlimited supply of free oil and gas!
As we say in the UK Leonel is going to have to sh*t marigolds.
This is starting to get serious - how much further can it slide? There is nothing, absolutely nothing (apart from hot air) to prop up the peso. In the few months that I've been here I've seen things deteriorate even further. How much lower can they go? And yet, is Hipolito that clever that he can orchestrate a mini boom and sudden collapse just as Leonel takes the reins? I don't think so. This could well be a long term problem for some of us.
Do we have an expert on the board?
Simon
I know for a fact that shop and restaurant prices have started to tumble to reflect the "new mood" and lower exchange rates which are filtering through the economy - yeah right!
Oh! and as opposed to the rest of the world, the DR is also to be given an unlimited supply of free oil and gas!
As we say in the UK Leonel is going to have to sh*t marigolds.
This is starting to get serious - how much further can it slide? There is nothing, absolutely nothing (apart from hot air) to prop up the peso. In the few months that I've been here I've seen things deteriorate even further. How much lower can they go? And yet, is Hipolito that clever that he can orchestrate a mini boom and sudden collapse just as Leonel takes the reins? I don't think so. This could well be a long term problem for some of us.
Do we have an expert on the board?
Simon