Dolores Vicioso – Page 7127

The ?guilas Cibae?as are up three games to zero over Leones del Escogido after kicking off the Championship round of the Dominican Winter League Season on Friday. The winner of the series will represent the Dominican Republic in the Caribbean World Series beginning next week in Carolina, Puerto Rico. The ?guilas came out on top …

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President Hipolito Mejia announced during the Government Council meeting that the governmental bank Banreservas has received a US$597,660,000 transfer of the US$600-million sovereign bond placement money. The difference is attributable to the commission for the placement.  Diario Libre reports that 70 percent of the bonds were placed in the United States and 30 percent in …

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Bond: 9.04 Interest and matures in 1/23/13 MOODY?S Outlook: Stable Long term Foreign Bank Deposits: Ba3 Long term current debt: Ba2 Local Currency Current Issuer Rating: Ba2 Foreign Currency Current Issuer Rating: Ba2 Foreign Currency Long term debt: Ba2 STANDARD AND POOR?S Outlook: Stable Foreign Currency Long term debt: BB- Local Currency Long term debt: …

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In return for the RD$22.5 billion generated by the sovereign bond issuance, Dominican taxpayers will owe a sum of RD$75 billion ? a figure that does not take into account any future peso devaluations and almost equals the government budget for 2003 of RD$83 billion. The phenomenon of using sovereign bonds as a financing mechanism …

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?The sovereign bonds are here,? said President Hipolito Mejia to a Cadena de Noticia reporter?s question regarding whether the Games cost more than budgeted and whether he will cover any discrepancy. As reported in El Caribe, the President said: ?If more money is needed, there will be more money.? Meanwhile, the newspaper reports that a …

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As of Friday morning, the Euro was being traded at US$1.076725 in the world markets and yet the Central Bank of the Dominican Republic is maintaining exchange rates that make the Euro considerably less attractive. The Central Bank?s rate for the Euro currently stands at RD$17.41, while the US Dollar is being traded at RD$22.50. …

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The European Investment Bank (EIB) announced that it will lend 40 million Euros to commercial banks of the DR. The banks involved are Banco Popular, Baninter, BHD and Bancredito. The terms will be set for a 12-year period, including a four-year grace period, at very low interest rates. This financing is the first installment of …

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After announcing a week ago that the government would turn off air conditioners and unnecessary lights in governmental institutions on weekends due to the high costs and lack of supply of fuels worldwide, President Hipolito Mejia announced yesterday further measures to economize fuels. The President explained that he will reduce the amount of SUVs that …

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Central Bank Governor Frank Guerrero and Superintendent of Banks Alberto Atallah jointly warned in a press conference that any institution or person that spreads false rumors that taint the image of any bank will be fined. They referred to the 80th article of the Monetary Law, which deems such circulation of rumors a crime. The …

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The National Competitiveness Council is proposing that the government eliminate and lower certain taxes to improve the business climate and productiveness nationwide. Andres Vanderhorst, executive director of the Council, explained that the proposal is being prepared for its presentation to the President in March. If the Executive Branch approves the fiscal policy modifications, the tax …

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