2001 – Page 105

A quake of 4.7 on the Richter Scale was felt yesterday in Santo Domingo, and the East and the North of the Dominican Republic, according to the Seismological Institute at the Universidad Autonoma de Santo Domingo. The movement took place at 8:30 am and its center was Saona Island. The earthquake caused no damage. It …

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The Mejia government proposes the drawing up of a three-year Social Pact outlining an investment program for the barrios and rural zones. President Mejia was in Santiago on Sunday and sent his press spokesman Luis Gonzalez Fabra to represent him on an El Gordo de la Semana television program. Editors of newspapers, representatives of the …

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Former President Joaquin Balaguer said that while the situation of the country is of concern, people should quiet down and pay attention to what the government proposes to do to resolve the problems. Only then, should the people “act in consequence,” said the influential former President.

A national protest day has been called for Tuesday, 19 June. The Colectivo de Organizaciones Populares, a self-appointed group of unions and neighborhood representatives, proposes that everyone take the day off tomorrow to protest the government’s economic measures. The announced 20% increase in electricity spurred the protest day movement. The Colectivo de Organizaciones Populares had …

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The National Council of Businesses (CONEP), the nation’s leading business organization, has warned Congress about the negative consequences of giving the green light to the US$500 million in sovereign bonds. Congress is about to study the bill to issue the bonds. The business organization says the government’s decision to issue bonds while it is taking …

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In Hoy newspaper today, the dean of the School of Economics of INTEC University, Apolinar Veloz, criticized the government’s decision to acquire new debt to compensate for its fiscal crisis. Veloz criticized the government’s plans to take on RD$3 billion in debt from local banks and issue US$500 million in sovereign bonds this year. He …

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El Caribe newspaper reports that current expenditures, such as payroll and supplies, increased 17.7% during the first four months of the year, going from RD$11,718 million in the first third of 2000 to RD$13,679 million for the same period this year. At the same time, capital expenditures, such as investments in infrastructure and public works, …

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The Mejia government is negotiating with the World Trade Organization for a delay in applying the GATT valuations to imports. In order to avoid a major decline in government customs revenues, the Dominican government requested on 23 May a two-year extension on its authorization to under-value a list of 31 product categories. These range from …

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Hoy newspaper says that Ege Itabo had net profits in 2000 of RD$558 million. An operations report states the company had pre-tax earnings of RD$743 million.

The Partido Reformista Social Cristiano chose to expand the number of members of its Central Executive Board (DCE) from 250 to 500 during an extraordinary meeting convened this weekend by party leader, former President Joaquin Balaguer. A special commission was created to organize a forthcoming national assembly where modifications to the statutes of the party …

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