Dolores Vicioso – Page 7216

Grocery stores and industrial users of refined sugar are suffering from the usual annual sugar scarcity, El Caribe reports. The newspaper says supermarkets that still have sugar are limiting consumers to five pounds each. El Caribe newspaper explains that the problem is caused by the limited refining capacity of Dominican sugar mills. Only one of …

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The free trade agreement signed with the Caribbean will not go into effect until the second week of September, according to the president of the Trinidad & Tobago Chamber of Commerce in the DR, Fernando Gonzalez Nicolas. He said that Jamaica and Barbados have postponed the dates for ratifying the agreement. Administrative rather than political …

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Former Minister of Finance Daniel Toribio has warned that at the pace Congress is approving loans, the foreign debt could increase by US$2.2 billion by the end of this year. As of December 2000, the foreign debt was US$3.67 billion. The new deal would increase this to US$5.87 billion. “This is not what is most …

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Local cement manufacturers have dropped their prices by 30% due to weakening demand. Aquilino Doñé Vargas, president of the Association of Hardware Stores, said that the decline in the cost of construction materials plus the six to eight point decline in interest rates is good news for the construction industry. He expects this to spur …

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Tony Biagiano of the International Water Ski Federation and instructors Lisa St. John (former US ski water champion) and Maria Luisa Botero (Latin American ski champion) will arrive on Friday, 3 August to give clinics on Saturday and Sunday at the Isabela Water Ski Club in Arroyo Hondo in the capital. The clinics seek to …

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The finance, technical and general work commissions of the Pan American Sports Organization are meeting in Santo Domingo 2-5 August to prepare for the 39th Assembly of the Pan American Sports Organization. The assembly of 42 representatives of regional Olympic committees will be held in Santo Domingo to analyse advances made towards the celebration of …

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The Central Bank says its plan to considerably reduce the amount of deposit certificates it issues has been successful. The deposit certificates had been issued by the Fernandez government to reduce liquidity in the economy and compensate for inadequate management of government spending. The competition of the Central Bank with the commercial banks kept interest …

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El Siglo newspaper reports that the central government has increased its spending by RD$7.1 billion in its first 11 months in power. According to the Budget Office, government spending reached RD$50.7 billion during the first 11 months. This is up from RD$43.6 billion for the August 1999-June 2000 period. The government collected RD$50.3 billion during …

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The Executive Branch has published a Gaceta Oficial (official gazette) compiling the 373 laws that have been passed during the Mejia administration. The bulletin also includes 1,679 decrees. But decrees that were modified after they were passed do not appear in the gazette, such as the ones regarding the time change and gaming restrictions.

Julio Ortega, who for years represented the Dominican Republic in negotiations regarding the San Jose Agreement with Mexico, suggests that the Dominican government no longer purchase fuel from Mexico. In a write up in the Listin Diario, Ortega says that it is unlikely the DR will ever be able to take advantage of the soft …

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