2008 – Page 35

In La Romana, President Leonel Fernandez said that the financial problems that the world is experiencing are the result of a profound crisis of “ethical values in the markets and the rottenness of the system.” As he presented the conclusions of the two-day “Emerging Global Financial Order: A Regional Perspective” seminar, held in Casa de …

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The secretary general of the Organization of American States (OAS), Jose Miguel Insulza is proposing the application of short-term measures to tackle the global crisis, including mechanisms to limit speculation in the futures market and in the weaker currencies of developing nations. Speaking yesterday, Insulza said he believed that this would require a voluntary policy …

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Two leading business organizations, the Herrera Industrial Association and the Federation of Industrial Associations, have issued a press release criticizing the 2009 National Budget of being little more than a “warehouse for numbers.” The industry leaders called on the government instead to prepare a budget with the role of fostering development. They expressed disappointment that …

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Economist Roberto Despradel writes in today’s El Caribe that the DR could feel the present economic crisis more than its own financial crisis in 2003 and 2004, and needs to foster conditions to strengthen its export sector. He explains that the former crisis was internal, and foreign exchange sectors, namely goods and services exports, including …

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The Ministry of Industry and Commerce (SEIC) has ordered a slight reduction in the price of premium and regular gasoline and diesel, LPG, kerosene and aircraft fuel, ranging between RD$0.42 and RD$0.90. These prices will be in effect until next Friday. A gallon of gasoline will now sell for RD$123.70, RD$0.70 lower. Premium gasoline is …

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The International Monetary Fund (IMF) suggests that the Dominican monetary policy observe “a certain margin of relief” next year, in proportion to the fiscal adjustment that the IMF mission agreed with the Dominican authorities. In a report that is published in today’s El Caribe, the organization says that an IMF mission headed by Andy Wolf …

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The European Union has conditioned disbursement from a EUR179 million development program fund to the government fulfilling pre- established requirements. The chief of the EU mission in the Dominican Republic, Alicia Escuin, signed the agreement with Domingo Jimenez, the director general of Multilateral Cooperation in the presence of the Minister of Economy, Planning and Development, …

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Tourism Minister Francisco Javier Garcia is focusing his attention on developing the southwest coastline of the Dominican Republic. As reported in Diario Libre, Javier Garcia said that the time has come for the southwest and he soon would announce multi-million investments forthcoming for the area. Javier Garcia says that he has the blessing of Environment …

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