2005News

LMD doesn’t have money for the DN

The Dominican alphabet soup of institutions has the Dominican Municipal League (LMD) telling the Santo Domingo National District council (DN) that it has distributed the funding it obtained according to the 2002 Census. As reported in yesterday’s news, Santo Domingo mayor Roberto Salcedo told Hoy reporters that he is still owed RSD$78 million by the League. LMD head Amable Aristy Castro told reporters that his institution does not have any more money with which to increase the National District’s funding allocation. Aristy Castro said that nearly 100 city councils will receive less money than expected because funds were distributed according to the 2002 Census that showed that the cities had lower population figures than previously thought. Aristy Castro also revealed that the LMD had served as a guarantor for a RD$21 million loan that brought the DN’s total debt to RD$56.1 million. At the same time the LMD had backed another RD$100 million at the Banco de Reservas de la Republica Dominicana. The LMD cut a check for RD$67 million, their share of the taxes collected by the government for distribution to the different municipalities, but Salcedo is claiming a shortfall of RD$12 million.