Dolores Vicioso – Page 7277

Economist Andres Dauhajre said that a high ranking government power commission (which includes former Central Bank governor Hugo Guiliani and general manager of the CDE Cesar Sanchez) is studying ways to negotiate with power generators to avoid increases in the cost of power to consumers. He says the commission recognizes the already high rates Dominican …

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Andres Dauhajre, in charge of the new sovereign bonds unit, has urged Dominicans to demand that the government use the funds for productive projects. He said it is imperative that the funds go to projects that produce returns so the money can be repaid. He said there is a clause that obliges the government to …

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Moody’s Investors Service changed its ratings outlook to positive for the Dominican Republic’s foreign-currency ceiling for bonds and notes, as well as the ceiling for bank deposits. Moody’s indicated that the positive outlook is supported by a period of sustained economic growth where GDP has grown on average 7.5% since 1996. Additionally, single-digit inflation contributed …

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Listin Diario newspaper publishes today that the Central Bank international reserves increased during March and April of 2001. The newspaper says that during January and February payments of US$100 million on the foreign debt reduced the reserve levels. They dropped in January to US$708.7 million and US$700.2 million in February. But as of March they …

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Hoy newspaper reports that Andres Dauhajre, director of the unit in charge of issuing sovereign bonds, will send to Congress an initiative seeking permission to participate in the international money markets. Dauhajre says that at least five firms have shown an interest. He said the annual interest rate would be about 10.5%. El Caribe newspaper …

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Despite the PRD senators forming a majority in the Senate with 24 of 30 senators, the absence of several at a session yesterday allowed PLD senators to prevent passage of a US$143 million loan. The loan from Spanish banks was sought by the Ministry of Agriculture to finance the construction of Merca Santo Domingo, a …

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