Bear Stearns? Sovereign Latin America Update, dated 21 May 2003, reports on the impact that the Baninter debacle is having on the country?s creditworthiness and how Dominican society will pay the price for several more years, for what it calls the corruption and mismanagement of that bank. Bear Stearns is a leading worldwide investment banking and securities trading and brokerage firm. The Dominican Republic is being monitored by the firm because of its placement of sovereign bonds in 2001 (US$500 million) and 2003 (US$600 million).
To view the complete report, see http://www.dr1.com/news/2003/052203_SovUpdate.pdf