1996 – Page 106

Senators from the Acuerdo de Santo Domingo, the alliance of the PRD and minority parties, are delaying on the approval of the Codigo Monetario y Financiero given the fact that that law is a pre-requisite for the disbursement of US$102 million granted by the Interamerican Development Bank to strengthen the financial sector. The Acuerdo de …

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Leonel Fernández, presidential candidate of the PLD, returned to Santo Domingo on Wednesday, 10 January, after several days visiting Miami and Taiwan. He spent five days in Taiwan at the invitation of its government. He met the Taiwanese President and the ministers for the economy, health, education and foreign affairs. Upon his arrival he told …

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The Federacion Dominicana de Colonos Azucareros (Fedoca), which groups sugar cane growers, said that the State Sugar Council (CEA) has not been able to pay off its debt with them, because it has been administered to favor political people who traditionally collect monthly checks from that institution. It condemned the practice in the CEA where …

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High prices for four products and a crisis in the state sugar industry marked the opening of the New Year. 1996 brought higher prices in basic staples such as rice, potatoes, cooking oil and butter. Also, the information published in the evening newspaper Ultima Hora adds, flour is now being sold at RD$300 instead of …

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Mr. Cesar Garcia Victoria, president of the Association of Brokers, told the newspaper Hoy that “there are still quite a lot of limitations which do not allow normal operations at the Santo Domingo Stock Exchange. “For instance,” Mr. Garcia said, “in Santo Domingo we are not allowed to trade in hard currencies such as Sterling, …

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The Federacion de Colonos Azucareros (FEDOCA), says that the State Sugar Council will incur a deficit of RD$1,100 million during the next grinding season. This will not allow the State sugar industry (CEA) to pay the RD$419 million they owe the organization’s members. During the last two years, continues the report in the Listin Diario, …

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The country exported minerals worth RD$2,884 million during the final quarter of last year, according to the Central Bank bulletin, Principales Indicadores Economicos del Banco Central. Gold production for the last quarter of 1995 was 75,843 troy ounces, while during the first nine months of last year, Falconbridge Dominicana produced 23,113 tonnes of nickel. Falconbridge …

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Mr. Juan Andres Pla Gomez was named executive director of the Consejo Estatal del Azucar (CEA) instead of the recently appointed Mr. Dhimas De Moya. A former executive director of the government sugar enterprise said that “the changing of the directors will not solve the very serious problems facing the nationalized sugar industry.” The sugar …

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The Banco Agricola has authorized loans to the tobacco farmers amounting to RD$9.2 million this year. According to the newspaper Listin Diario, 12,112 Dominican tareas will now be planted. (1 tarea = 625 square meters). The announcement was made by Mr. Adriano Sanchez Roa, General Manager of the bank while inspecting tobacco plantations in Villa …

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The Ministries of Agriculture and Education will revive the School Kitchen Gardens that were so popular during the second world war. This was announced by Mr. Virgilio Alvarez Bonilla, who added that “an agreement will be signed shortly between the Ministries.” The land for the school gardens will be supplied by the Ministry of Education …

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