2003 – Page 19

The National Council of Business (CONEP) president, Elena Viyella de Paliza entire keynote speech at the Third National Business Convention appeared in the economic section of El Caribe on Saturday. Her discourse, a resume of the conclusions of the National Business Convention, clearly address what those convened felt were the greatest problems facing the Dominican …

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The National Business Convention, organized by CONEP (the National Business Council), proposed to limit the amount of money given to the political parties and to speed up the budget proposals for September rather than December, among other things. In addition, they entrusted the Senate with the need to elect the Central Electoral Board (JCE) members …

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President Hipolito Mejia promised to maintain the subsidy for home use of propane gas, but at the same time he warned that cars, hotels, restaurants and other major users would face the real price of RD$42.32 per gallon. The Presidential Decree is supposed to be released today.

David Anthony, chief economist for the Latin American Department and the director of the Country-Risk area of The Economist Intelligence Unit, told El Caribe’s reporters that the Dominican Republic would have a liquidity crisis if it does not sign with the IMF within two months. According to Anthony, he cannot see an end to the …

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The Intelligence Unit of The Economist is looking for a lowered exchange rate by the end of 2003, aiming for a target of RD$35 pesos to US$1. For the year 2004, the Economist sees the dollar at RD$37.80. These projections cover the period during which the IMF agreement will be in effect. The Economist expects …

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The AIG Global Trade and Political Risk report for December is reporting that the DR “faces a shortage of foreign exchange and may soon have to impose formal exchange controls. Newspaper reports and major indicators suggest that informal controls have already been imposed and sovereign risk has risen to levels that may not be adequately …

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After a brief respite, the price of gasoline and diesel rose to historic new highs on Saturday. Premium was pegged at RD$73.64 per gallon, regular at RD$66.38 and diesel at RD$52.22. The Industry & Commerce continues to practice its policy of lowering the sale price just before announcing new highs. The propane situation improved as …

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The government-intervened Listin Diario reported that some of the sectors generating hard currencies, such as tourism and industrial free zone companies, will support the efforts of the Commission to Follow Up and Supervise Currency Operations, as recently created by President Hipolito Mejia. Johnny Bernal, a spokesperson for the National Hotel and Restaurant Association (ASONAHORES), told …

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