The Senate yesterday approved in first reading the bill which would authorize the Government to issue bonds to pay off RD$500 million in its debt to suppliers and contractors of public works. Passage had been delayed because of complete opposition to the measure by two Democratic Union (UD) Senators, members of the Santo Domingo Agreement (ASD) coalition that controls the Senate [ASD groups PRD will allied small parties]. The measure now goes to study in the Finance Committee before coming up for a second reading. Under the bill, six-year bonds would be issued in denominations of RD$5,000. The bonds would offer 6% annual interest, paid quarterly. The proposal was originally put forward by the Fern?ndez Administration during the last session of Congress. It was reintroduced in this session by ASD leaders, but does not have the support of all coalition members.
