2012News

Government negotiates with generators

Today, Wednesday 7 November the Danilo Medina administration plans to meet with the electricity generation companies that keep the country moving. During this meeting, according to reports in most of today’s newspapers, the generators are expected to answer the President’s request to prevent “financial blackouts” for the rest of the year. The government admits that it cannot pay what it owes the sector, according to El Nuevo Diario. Last week, Medina met with the generators and asked them for their cooperation and help, “in order to see how to handle the issue of the government debt for purchases of energy for the rest of the year.” The administration foresees that by the end of the year they will have accumulated a debt of around US$600 million, which the President promised would be paid punctually starting in January 2013. The government arrears with the generators cost Dominican taxpayers millions in interest payments accrued by the debt.