2004News

Mejia pays millions to creditors

President Mejia arranged yesterday for the government to pay RD$5.14 billion owed by various public institutions to select agricultural producers. Mejia said that in order to pay this debt, a law that was approved last year by the National Congress had to be enacted. This week the agri-producers will begin to receive their due through the Banco de Reservas to the tune of RD$3.3 billion, according to the President. Law 172-03 provided for the emission of bonds in order to pay the debts the state institutions had contracted with agricultural suppliers. As Mejia announced the payment plan, several of those present in the Government Council salon of the National Palace reminded Mejia that in order for the law to go into effect it was necessary to issue a Presidential Decree that describes the rules set out in the new law. Mejia called for Luis Gonzalez Fabra, his press director, and asked him to get the decree ready for signing. The President explained that the Banco de Reservas had to give a certificate to each one of the institutions that had bills pending with the producers.