Nothing more solid than in a few months because that is when the defaults are expected to happen in payment to the generators. As for "Pichardo having the solution", he was in fact the one that pointed out this is going to happen buried in the thread on the Metro. I appears that some hard decisions will have to finally be made by the government regarding keeping the lights on.
- Thread starter windeguy
- Start date
Electricity - what happens when the money runs out?
Hard to say what happens next. However, I just noticed on the Banco Central website that the Tasa de cambio today for the USD-RD has broken out now to 36.8351. So we are seeing the peso starting to breakdown against the dollar, which could be having a lot to do with the tap running out from external financing to support the electricity and peso. They will have to devalue the peso going forward is my guess.
Interesting news on DR1 today, seems to be exclusive. CDEEE sacked a lot of 'overworked' advisers. working 2 days a week and getting paid RD$ 30.000 without producing work will cut a bit of the costs...
While that is scandalous, it is still a drop in the bucket compared to what must still be done.