1996 – Page 31

Early last week, Héctor Valdez Albizu was re-appointed governor of the Central Bank by President Leonel Fernández. Andrés Dauhajre, president of the Unión Nacional de Empresarios (UNE) and Celso Marranzini, president of the Asociación de Industrias de la República Dominicana (AIRD), have both commented that the confirmation of Mr. Valdez Albizu’s continuation in office is …

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The production of cocoa has experienced a significant increase, with exports having grown by three thousand tons when compared to last year, earning an additional US$6 million for the country. Eddy de la Rosa, executive director of the Confederación Nacional de Cacaocultores Dominicanos, said that the increase is due to the good rainfall, the improvements …

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The Agricultural Department of the United States will assign the Dominican Republic an initial quota of between 332 and 335 thousand tonnes of sugar for the harvest that begins this October. This information was revealed by Pedro Ignacio Chiapini, executive director of the Federación Dominicana de Colonos Azucareros (FEDOCA), who added the information was not …

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Nassim Alemany, president of the Confederación Patronal de la República Dominicana, agrees with President Leonel Fernández’s decision to postpone an adjustment of public employee’s salaries, as he believes that an increase would affect the nation’s macroeconomic growth. Mr. Alemany also said that the current inflation rate is under two digits, so the decision to delay …

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The president of the Cámara de Comercio Domínico-Mexicana has asked for the creation of a Ministry for Foreign Investment and the formation of a regional economic group comprising the four Antilles that would be named the “Antilles Group”. David Toribio Lantigua said that with the existence of such a ministry, the country could access new …

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The promotion of the Dominican Republic abroad, said Felix Jimenez, the new Minister of Tourism, is one of the government’s priorities. Mr. Jimenez understands that the promotion of the DR abroad should increase the number of visitors to the country, thus increasing the amount of foreign currency earned.

The process of privatization of the government enterprises should start as soon as possible, said Porfirio García, dean of the Department of Economics of the Universidad Autónoma de Santo Domingo (UASD). He said that the first step that the government has to take is to have the privatization bill approved by Congress. He also said …

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The new finance minister, Daniel Toribio, said that the management of the Banco de Reservas (BR) by its former administrator, Eligio Bisonó, has clearly shown that when an institution is well managed it can be very profitable. In his speech of putting on oath the new administrator, Roberto Saladín, a former Central Bank governor, said …

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The Central Bank’s Monetary Board has approved the establishment of a development bank for small businesses that could come into operation as early as next February. The bank will have a starting capital of RD$28 million, in addition to US$600,000 that the Inter-American Development Bank (IDB) will put into place via its Multilateral Fund for …

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The United States Congress has approved the Generalized System of Preferences (GSP) that benefits this country and another 139 developing nations. The GSP exempts from taxes some 4,400 products in selected categories coming from the benefiting nations. The GSP expired last year but 1994 U.S. import data showed that the exemptions totaled US$19,000 million.