Dolores Vicioso – Page 6845

The Central Bank announced in paid advertisements the decision of the Monetary Board to dissolve what remains of Baninter, and approve the sale of several branch offices to the Bank of Nova Scotia (Scotiabank).  The Central Bank declared that Scotiabank would purchase ?a significant part? of Baninter?s financial assets and would pay US$25 million for …

Read more…

El Caribe reports that the legal counsel of Ram?n B?ez Figueroa, former president of Baninter, considered Scotiabank?s intent to purchase 35 branch offices of the collapsed bank at a price of US$25 million part of what they called ?the cannibilization and depredation? of Baninter?s assets on behalf of the authorities and a violation of the …

Read more…

Guillermo Caram, a former Central Bank official, writes an interesting op-ed piece in today?s edition of Hoy, in which he says that the IMF accords are insufficient. He says that current income for the government is not enough to meet current expenditures, and points out that the last official publication showed that regular government expenditures …

Read more…

Writing in the El Caribe, Pedro Silverio, as head economist at the Cenantillas research center of the Pontificia Universidad Catolica Madre y Maestra, continues his look into the government?s use of the Hydrocarbon Law funds that were meant to be used to pay the national foreign debt. According to an article reported yesterday by DR1 …

Read more…

The List?n Diario reports that the Senate has approved a piece of legislation that would give the President the authority to issue RD$5.14 billion in bonds to be used to cover the debts the government has incurred with the agricultural and livestock sector. Excluded from the scheme are the debts that the government holds with …

Read more…

El Caribe reports that the Senate has not been able to come to a consensus regarding the substitute for Manuel Ram?n Morel Cerda, the former chief of the Central Electoral Board (JCE), although it did accept the resignation of the JCE?s former chief magistrate. According to the report in the El Caribe, there are some …

Read more…

The Armed Forces Minister, Lt. General Jos? Miguel Soto Jim?nez, warned that Haiti constitutes a very serious threat to the Dominican Republic, not in military terms, which he said would be ?absurd,? but rather in terms of social and economic pressures. As reported by Ivonne Ferreras of the List?n Diario, Soto Jim?nez, while giving the …

Read more…

According to Eduardo Le?n Asencio, the head of the Le?n Jim?nes family and president of the board of directors of the Banco Profesional, the buyout of Bancr?dito was done to show the group?s total confidence in the future of the Dominican Republic. Speaking at a luncheon held for the economic editors of the major newspapers, …

Read more…

The Association of Commercial Banks of the Dominican Republic publishes an advertisement today to explain that the 0.15% charge recently established by the Central Bank on check transactions will not apply in two cases: If the check is cashed by a cashier of the bank where the check was issued. If the check is deposited …

Read more…

The northern region of the DR has consolidated itself as the leading receptor of industries destined to the industrial free trade zones. Currently, 46% of all free zone activity is taking place in the Cibao Valley, reports the bulletin ?Infoc?mara?, issued by the Chamber of Commerce and Production of Santiago. It says that 16 new …

Read more…