Jean-Claude Moyret, the French ambassador to the DR, joined US Ambassador Hans Hertell and Italian Ambassador Giorgio Stefan, to request that the Dominican justice department determine the responsibility of the case of the 2003 banking collapse. Moyret, speaking during a reception to commemorate French independence, said he has full faith in the DR?s Judicial Branch. Moyret feels the Dominican Republic is facing down the challenge of overcoming its economic turmoil, a feat that he considered of even greater importance than the political challenge the 16 May election represented.
?Until now there has not been a full awareness of the seriousness of the banking crisis of 2003 and its consequences. The banking crisis and subsequent monetary policy have doubled monetary emissions, with dramatic consequences on the exchange rate, inflation and the standard of living of the Dominican people,? he said. The full price of this crisis has not yet been paid in full, according to the French diplomat, who referred to the savings certificates issued by the Central Bank, describing their value as equal to that of money in circulation. In his view, the handling of this situation is fundamental for the return to economic growth and he said that to overcome this situation an agreement between all political forces will most likely be needed.
He reminded that France provided support for the DR?s negotiations with the Paris Club and assured it would continue to cooperate with programs to do with public health, education and the improvement of the police force.
According to Moyret, the European Union has funds to help the country overcome its predicament. He mentioned that of the Fund FED 8 of EUR 137 million only 27 million has been spent. He said there is also a fund of 260 million euros in donations available.
Positive elements, in his opinion, were the dynamic tourism sector, significant investments that have been made such as the Punta Caucedo port, and the political stabilization in neighboring Haiti.
Moyret took advantage of his speech to thank the Dominican Telecommunications Institute (INDOTEL) of the Dominican government for the frequency for Radio Internacional Francesa (RFI), which he said will strengthen the ties between the French and Dominican people, especially among the nations? youths.