2003 – Page 22

Finance Minister Rafael Calderon announced yesterday that the government would pay RD$150 million to the importers of LPG (propane gas) as a partial payment on the RD$300-million debt. At the same time, Industry & Commerce Minister Sonia Guzman de Hernandez reaffirmed that within 12 days the propane supply problems would be solved by the arrival …

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Edenorte and Edesur have announced a series of planned power outages that will affect most of the northern and southern areas of the Dominican Republic. According to the message in today’s Listin Diario, the blackouts will begin on 6 December and last until 12 December. La Vega is scheduled to initiate the process, which entails …

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The National Association of Gasoline Retailers (ANADEGAS) is requesting the government honor promises made to them in the accords designed to assist the profit margins for most gas station owners. The retailers point out that the government has only fulfilled its commitment to increase their earnings by 22%, while ignoring the other points. The association …

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El Caribe reports that the National Institute of Forensic Pathology has classified 968 deaths for the year as ‘homicides’, an average of three per day. According to Tania Molina, the El Caribe reporter, during the period from January to October the coroner’s office performed 1,960 autopsies, of which 968 were homicides. Gunshots were the cause …

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The Demographic and Health Survey 2002 revealed that a woman dies every 24 hours as a result of complications in her pregnancy. The survey is the result of an 18-month study carried out by the Center for Demographic and Social Studies (Cesdem) and sponsored by the United States Agency for International Development (USAID), the Ministry …

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El Caribe carries a great story about the new wave of young Dominican baseball players who are considered to be top prospects for major league teams. During the first weeks of the Winter Baseball League, some of the novice sluggers have been so outstanding that they have taken over positions normally filled by big-name players. …

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The Listin Diario reports that the government, banks, exchange houses and remittance companies have agreed to bring the exchange rate down to RD$30 to US$1 within a week. Through reliable sources, the Listin Diario learned that a meeting was held at the Presidential Palace on Avenida Mexico, where the government’s team was headed by Hipolito …

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Two banks, Banco Popular and Mercantil Bank, were selling dollars at RD$40 to US$1 prior to last night’s meeting, undercutting the going rate of the past two days by approximately RD$4.00 per dollar. Both banks announced that they would today have dollars for sale at the new rate and lower rates are expected to continue …

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Dollar loans are becoming less popular in the private sector, according to the Central Bank, which ascribes the trend to the uncertainty regarding the volatility of the peso. The Dominican currency has suffered a depreciation of 58.6% over the last few months.

According to the 3 December report of Bear Stearns, the investment banking and securities trading and brokerage firm, while their contacts in the economic team deny that capital controls would be implemented to stop the slide on the peso, they have reason to believe that “President Mejia seems to be relying on very strong moral …

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