2004 – Page 176

Franco Uccelli of Bear Stearns reports that governmental non-compliance with particular fiscal targets of the IMF standby agreement has led to the delayed completion of the scheduled April-May IMF review and the US$62-million disbursement. ?For all intents and purposes, the standby agreement with the IMF is at the moment on standby,? writes Uccelli in his …

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Finance Minister Rafael Calderon announced the formation of an Executive Office for Transition at the Presidential Palace, where members of the Governmental Transition Team will meet with a transition team appointed by President-elect Leonel Fernandez. Those representing the current government will be led by Rafael Subervi Bonilla, the former vice-presidential candidate; Secretary of the Presidency …

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President-elect Leonel Fernandez said that the government is not planning a dollarization of the local economy. ?That is absolutely not in our plans. We are not contemplating dollarizing the Dominican economy, but rather strengthening the Domincian peso. That is what this first phase calls for,? said Fernandez, as reported in Hoy newspaper. Economists at the …

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President-elect Leonel Fernandez will be in New Jersey to participate in the Thursday, 27 May commencement ceremony of Stevens Institute of Technology. He has been invited to speak at the graduation ceremony of 350 undergraduate students. During the ceremony, Fernandez will also receive an honorary degree. The invitation stems from Fernandez? support for the Stevens …

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Dominican contemporary music star, Juan Luis Guerra?s office has confirmed that Karen Records has authorized him to produce his new CD under the Univision Music Group label. The deal authorizes the release and distribution of his new production, ?Para Ti,? under the new label.