2003 – Page 32

President Hipolito Mejia promised farmers in the Cibao Valley that he would not abandon them. The President toured the area surrounding San Francisco de Macoris and the devastation created by the flooding of the Yuna River in the northern areas of the country. Accompanied by his Minister of Agriculture and other high-ranking officials, the President …

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La Informacion, the Santiago paper nearest the flood areas, is reporting desperation among the refugees, with at least ten dead and several more injured. According to reporter Miguel Ponce, the flood victims are still waiting for help from government agencies that have promised to provide relief. In some poor neighborhoods, like Los Santos in Santiago, …

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In what might be today’s strangest headline, the Listin Diario reports that the abundant rains will be good for the electric situation and, later on, for agriculture. Ramon Perez Reyes reports that the members of the National Emergency Commission feel that the full hydroelectric dams will pay for the damages caused by the flooding, which, …

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As reported in Hoy newspaper, President Hipolito Mejia said last night on his “Una vez a la semana” TV show, broadcast on the state-run television station, that he is not in agreement with half of the things his government has done regarding the economy. He was commenting on the continuing depreciation of the peso against …

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The spokesman for Shell in the DR and vice-president of the Dominican Petroleum Refinery said that fuel supply problems are due to the delay in the government’s subsidy payments to Shell in the amount of RD$250 million. “We received a RD$130-million payment, but already the government has pending another RD$220 million.” Rafael Maradiaga explained that …

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The Industry and Commerce Ministry has announced substantial price increases for diesel, regular gasoline and premium gasoline. The new prices hit historic highs: RD$73.85 for premium, RD$66.77 for regular and RD$51.98 for diesel. The higher prices are reported to be linked to the new lows in the value of the peso, and represent a 40% …

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US Under Secretary of the Treasury for International Affairs John Taylor paid a short visit to the Dominican Republic, meeting with government economic officials, political leaders and President Mejia. The meeting with President Mejia was supposed to be a breakfast, but because of the flooding in the Cibao, it was rescheduled for later in the …

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In his weekly television interview, President Hipolito Mejia revealed the six ingredients in the recipe that Treasury Under Secretary John Taylor left him for repairing the Dominican economy. As reported in El Caribe, Taylor said the first point was to finalize the negotiations to renew the standby agreement with the IMF, which will include the …

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Robert Zoellick, the United States Trade Representative, called the work done by the Dominican trade team “excellent” and at the same time recognized the commercial importance of the Dominican Republic to the United States. The report carried in the La Informacion newspaper, refers to the talks that took place in Maimi recently. The Dominican trade …

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Bernardo Vega presents an incredibly sad tale of mismanagement and bureaucratic folly in today’s Op-Ed section of El Caribe. Vega looks at the Banco Intercontinental (BanInter) statistics and reveals that a mere 85 accounts held 77% of the total deposits both here and “offshore.” He points out that the Monetary Code establishes a guarantee that …

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