1996 – Page 97

The Dominican Republic received foreign investments worth close to US$1 thousand million during the first years of the present decade, according to a report released by CEPAL, the Economic Commission for Latin America and the Caribbean. The study on foreign investment in Latin American and the Caribbean indicates that for 1983-1993, the influx of foreign …

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The World Trade Organization is concerned about the current dependence of Dominican foreign trade on a few commodities, especially textile products. At a multilateral meeting on the Dominican Republic in Geneva, WTO officials indicated that the country’s economy is in a very vulnerable position because it has failed to diversify its exports and markets. Even …

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The Central Bank Governor, Héctor Valdez Albizu, told newspaper reporters that if the fiscal and monetary policies continue on the present track, the country is destined to experience yearly growth rates of over 5 percent and single digit inflation. The official says that the Central Bank has forecast sustained economic growth and an end-of-year inflation …

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Arturo Martínez Moya, a former president of REFIDOMSA, the Dominican Oil Refinery, contends that the country may have paid some US$80 million too much for its oil imports. He says that a report prepared by the Economy and Development Foundation commissioned by REFIDOMSA revealed that when compared with Shell’s purchases of oil in the Caribbean …

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Many economists and business leaders believe that the increase in tariff protection for eight agricultural items being sought by the Dominican Republic at the WTO is not the solution to the sector’s lack of competitiveness. They believe that rather than helping farmers, this measure will postpone important technological and structural improvements that are considered fundamental …

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The Dominican trade delegate to the WTO has submitted a report explaining that the country has taken the steps necessary to gradually remove exemptions in the way of import duties and tax holidays. They say that this is being done in keeping with WTO regulations which aim to abolish discriminatory trade treatment amongst its members. …

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Business consultants consider that the country should not continue to require import permits because this practice only renders the goods more expensive. They maintain, however, that the government must find some other ways to compensate for the competition resulting from the elimination of protectionist trade policies. Also, they consider that the government should ask importers …

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The World Trade Organization is concerned about the current dependence of Dominican foreign trade on a few commodities, especially textile products. At a multilateral meeting on the Dominican Republic in Geneva, WTO officials indicated that the country’s economy is in a very vulnerable position because it has failed to diversify its exports and markets. Even …

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On Thursday, 15 February, the hot rumor in Santo Domingo was that former President and Partido Revolucionario Independencia (PRI) leader Jacobo Majluta had died. Press reports later indicated he was in severe pain in a Tampa cancer center. Earlier reports on Sunday, 11 February had indicated that Mr Majluta, who has been convalescing in a …

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The Central Committee of the Partido de la Liberación Dominicana (PLD) gave full powers to its presidential candidate, Leonel Fernández, to select his possible vice president. He was left free to choose a party or non-party man. He is to announce his decision on 4 March to the PLD’s Central Committee.