Dolores Vicioso – Page 6878

El Caribe speculates that President Hip?lito Mej?a could return with US$1.2 billion to strengthen the Central Bank reserves. This would be comparable to the US government response when it granted US$40 billion to Mexico to offset the Tequila Effect or the Mexican peso crisis. The editorial writer also says that the US President could back …

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The Dominican Electricity Corporation (CDEEE) announced it will build a 345,000 volt optical fiber cable transmission line between Santo Domingo and Santiago (and linked to the Navarette substation). The optical fiber highway is estimated to cost US$115 million and the government has held talks with Deutsche Bank for funding. Engineer Cesar Sanchez, CDEEE administrator, said …

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As reported in Hoy newspaper, the National Council of Business (CONEP) protested that measures taken by the Monetary Board are putting most of the burden of the Baninter case on the private sector. ?The private sector should not carry the bulk of the responsibility for the adjustments. The government has a large share of responsibility, …

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The Monetary Board announced four resolutions on 17 May aimed at reducing pressures on the exchange rate. These consist of an increase in the legal reserve levels of banks to five percent of borrowing as of 15 May 2003; new structuring of the bank portfolios and reserve levels, a 20% reserve level for dollar savings …

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Judge Eduardo S?nchez Ortiz of the Seventh Instruction Court of the National District will begin questioning the three people accused in the Baninter case, Ramon Baez Figueroa, Vivian Lubrano de Castillo (who was hospitalized for high blood pressure) and Marcos Baez Cocco. The three were sent to justice by National District prosecutor, Maximo Aristy Caraballo …

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Ramon Baez Figueroa?s defense, headed by lawyer Marino (Vincho) Vinicio Castillo, said that in the documented case presented by state prosecutors against their client there is no mention of drug money laundering charges. The lawyers say that the total tally of the fraud is not established in the 13-page dossier, which includes nine pages of …

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Flavio Dario Espinal, dean of the PUCMM law school, and panelist on the Sunday ?En Contexto? news analysis program on CDN said that the different degrees of responsibility in the case need to be established, as well as the distribution of responsibility over the past 14 years as stated by the Central Bank Governor Jose …

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Economic advisor to the President, Andy Dauhajre said on his TV news analysis program last night that the country needs to give priority on the national agenda to separating banks from the media. He called for media shares in the hands of banks to be sold to non-financial institutions, saying that this would deter media …

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Hoy newspaper editor, Bienvenido Alvarez Vega, focuses on the Baninter case and asks where were the authorities of the Central Bank, the members of the Monetary Board, the authorities of the Superintendence of Banks, or the security bodies of the state that render periodic reports to the President, when rumors about the Baninter bank were …

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The New York Times has focused on the Baninter banking embezzlement case in its 16 May edition. See http://www.nytimes.com/2003/05/16/business/worldbusiness/ The New York Times has also covered the spreading of AIDS in the Dominican Republic, primarily because of Haitian migration. The article says that there are about half a million people with HIV in the Caribbean, …

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