2013News

Deputies approve BanReservas debt payments extension

The Chamber of Deputies has approved the legislative proposal called the Law of Rationalization of the Operations with the Banco de Reservas of the Dominican Republic. The Executive Branch sent this bill to the deputies as a way of extending the due dates for much of the financial obligations incurred by the bank beyond their current dates. The proposal was declared urgent and passed in two consecutive readings after the Hacienda and the Public Debt commissions told the deputies yesterday, Wednesday 20 November that many of the operations are due in December and that they have reached an agreement with the Banco de Reservas to extend these due dates with a one-year grace period. They are still discussing the extension period for the payment of the principal.