American Chamber of Commerce exhorted the government to go forward with the issuing of the sovereign bonds. Andres Aybar Baez, president of the Banco Mercantil and of the American Chamber of Commerce, said in a press conference that in the road show held in Miami last week an interest rate of 8.75% had been established for the bonds. The placement was put on hold following the terrorist attack in the US. Reportedly, 22 investment banks were affected, of which five were involved with the placement of the bonds, explained Aybar. President Mejia has said the placement process will resume when the timing is adequate. In a press conference called by the American Chamber of Commerce, Aybar expressed his confidence that tourism flows would resume. He expects the process of issuing of the bonds will continue in two or three weeks. He said that if the bonds are not placed, the economy would still grow 1.5-2% this year end. If they are placed, he forecast greater growth. He advocated a gradual reduction of the exchange rate commission from 5 to 1.75%. In his opinion, the announcement of the injection of US$20 billion capital into the US economy, and another possible US$20 billion will further reduce interest rates in the US, reactivating consumption. This would have a positive effect on travel to the DR and export manufacturing zones. During the press conference, he expressed his sympathies to the US people for the attack. He said that the attack was not only to the US, but to western civilization, of which Latin America is part. “It was an attack to our values, our freedom and our quality of life,” he said as reported in the Listin Diario. He urged to continue business as the goal of the terrorists is to spread terror and intimidation. “Let’s not give them that satisfaction,” he said.
