Dolores Vicioso – Page 6853

The List?n Diario reports that during the first five months of the year, disbursements for government wages exceeded their budgeted amount by RD$700 million. Reporter Edwin Ruiz says in the economic section that, if this trend continues, such spending would surpass the 2003 National Budget?s allotment by RD$1.8 billion. The newspaper says that the government …

Read more…

El Caribe newspaper reports that government revenues for the first five months of the year were RD$30.3 billion. Revenues are RD$90 million less than revenues for the same period last year. The newspaper says that the government dedicated 70% or RD$20.6 billion, to current spending and 30% or RD$9.2 billion to capital investments.

Former governor of the Central Bank and PRSC director Guillermo Caram contributes to Hoy newspaper and writes that according to a proposal made by the Dominican government, the citizenry will be paying for the broken dishes caused by corruption and excessive government spending, while the authorities hold onto what he describes as the hypertrophied and …

Read more…

El Nuevo Herald, the Spanish affiliate of the Miami Herald, focuses on the Baninter scandal and Dominican dealmaker Luis Alvarez Renta. In the government?s address to the nation in which it disclosed the existence of Baninter?s parallel banking system, Central Bank Governor Jose Lois Malkum linked Alvarez Renta to Baninter?s subsequent collapse and the RD$55-billion …

Read more…

The Wall Street Journal devoted the lead story in its Monday edition to the Baninter debacle. The story focuses on the story of Ram?n B?ez Figueroa, ?the banker who was once the head of a dazzling business empire and now stands accused of a US$2.2-billion fraud that has rocked the Dominican financial system to its …

Read more…

Bloomberg focuses on the Baninter crisis, the IMF, sovereign bond placement and more economic issues in the DR in a release today, also. See http://quote.bloomberg.com/

Enriquillo Reyes, the president of the Justice Commission of the Senate, says that President Hip?lito Mej?a needs congressional approval to deploy Dominican troops to Iraq, as reported in El Caribe newspaper. Although the PRD holds a majority in the Senate, it would nevertheless require the vote of the PRSC and PLD in the Chamber of …

Read more…

The private sector, considered the country?s largest employer, confirmed to Hoy newspaper that a wave of extensive employee firings is picking up speed. Fernando Garc?a Crespo, the president of the Organizaci?n de Empresas Comerciales, which groups large shopping malls, said that there has been a major downturn in the commercial sector that could create a …

Read more…

The German embassy says that it will soon move to new offices in the Torre Piantini building at Abraham Lincoln and Gustavo Mej?a Ricart Avenue. The embassy has outgrown its present accommodations at Plaza Intercaribe on Lope de Vega Avenue and will relocate to occupy the 16th, 17th and 18th floors at its new address. …

Read more…

The List?n Diario reports that Miss Universe Amelia Vega would like to be named the godmother of the Santo Domingo Pan American Games. The DR?s first ?most beautiful woman in the world? said in New York upon participating in the torch-carrying ceremony through Manhattan that she would be honored to be the godmother. ?I would …

Read more…