1998 – Page 140

It’s a good time to visit the Dominican Republic. The dollar is commanding an all time high of US$15.40 pesos. As a result of government efforts to stall the increase of the U.S. currency, the government is restricting the liquidity in banks, and the prime rate has climbed to 28%, up from 18% early this …

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According to a study by the Central Bank carried out by Olga Díaz Mora, the tourism industry (hotels and restaurants, principally) has grown considerably during the past five years. The study shows that in 1997, some 178,100 Dominicans were employed in hotels and restaurants. Five years earlier, in 1993, 124,600 Dominicans had tourism industry jobs …

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Celso Marranzini, president of the board of the Corporación Dominicana de Electricidad, favored that the Dominican government reach an agreement with the Smith-Enron power generation company, prior tot he issuance of the judgment by the international arbitration court that has heard the case of the CDE vs. the U.S. company. The new executive director of …

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Ignacio Méndez, president of the Association of Industries of Herrera, one of the largest business organizations in the country, says that the DR would be better off if neither the DR nor Central America registered a list of products to be excluded from the tax exempt treatment of the Central American and DR free trade …

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Mayor General Aníbal Sanz Jiminián was decorated with the highest award given by the United States police forces in a ceremony held in Miami recently. The Dominican police chief received the Venerable Order of the Archangel Michael, Knight Commander, given by the National Association of Police Chiefs of the United States. He also received the …

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The Ministry of Public Works said that construction works on the new bridge over the Ozama River will be completed in 12 months time. The bridge is expected to cost RD$288 million, and is built with a 40% finance package from the Spanish government. Once completed, the bridge that will run parallel to the present …

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City Mayor Rafael Suberví Bonilla said the statement made by Felix Bautista, director of the Oficina Coordinadora y Fiscalizadora de Obras del Estado, that the newly-built Winston Churchill Avenue "boulevard" would have to go eventually was "nonsense." The municipality spent RD$40 million to refurbish the boulevard walk and install lighting from the 27 de Febrero …

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In a front page story, the Listín Diario, the leading Dominican daily newspaper, denounced that the Dominican government itself is one of the leading deprecators of Dominican rivers. It denounces that of 80 permits given to extract construction materials from rivers, 40 were given to government institutions involved in infrastructure construction works.

Jorge Castañeda, the renown Mexican intellectual, in a talk held on occasion of his visit to Santo Domingo to participate in the National Book Fair, said that Latin America must put aside the orthodox neoliberal economic model. He advocated for more free and participatory democracy, and for the regulating of speculative capitals. He also favors …

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President Leonel Fernández inaugurated on 23 April the I International Book Fair of Santo Domingo, the globalized version of the 25 year old National Book Fair. In his improvised opening words, he spoke of government efforts to refurbish the National Library and municipal libraries all around the country. The book fair will last through 3 …

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