2001 – Page 119

The Monetary Board of the DR gave the government its go ahead to issue US$500 million in sovereign bonds, said Central Bank Governor, Frank Guerrero Prats. Guerrero said the bonds will increase the Central Bank’s international reserves and the liquidity of the economy, as well as contribute to a reduction in interest rates. Guerrero says …

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The Chamber of Deputies passed four loan bills for US$110 million yesterday. PLD deputies voted against the loans. Reportedly, PRSC party leader, former President Balaguer gave instructions to PRSC senators to vote against the bills, but the deputies abstained instead, giving the PRD and independent deputies sufficient quorum to pass the loans. The deputies passed …

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The executive board of the Inter American Development Bank is coming for an intense agenda of meetings with government and private sector leaders. Fifteen IADB board members will meet with President Hipolito Mejia, members of Congress and the Supreme Court. Meetings have been scheduled at the Central Bank, with the so-called “social cabinet” of the …

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Financial consultant and New York Federal Reserve Bank assistant researcher Pablo Amaury Espinal said the best option for the government to secure fresh funds is to use the US$700 million available through organizations like the Interamerican Development Bank and the World Bank. Most of this money has been approved and is only pending matching funds …

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Former Vice President Carlos Morales Troncoso told El Siglo newspaper that the promises and high hopes created by the election of a PRD government are vanishing. He said this explains the social protests of recent weeks. The Partido Reformista Social Cristiano (PRSC) opposition leader said the Mejia government has erred from the economic point of …

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A coalition of community organizations met yesterday with the so-called Social Cabinet of the Mejia administration. Capotillo, where 80,000 people live in a one square kilometer slum area, recently made headlines after confrontations with police ended in four deaths. The police took over the neighborhood known as a haven for delinquents and for its points …

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President Hipolito Mejia received unconditional support for the future sovereign bonds issue from PRD senators at a meeting yesterday. The PRD has a majority in Congress. The President of the Senate, Ramon Alburquerque, said all the senators will offer their support to the President because the bonds will benefit the economy and enable the government …

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President Hipolito Mejia says he plans to retire to a farm in San Cristobal after completing his four year term. “I’m not leaving before that, but neither will I stay a single day more,” he said. Mejia was elected for four years starting 16 August 2000. He spoke to the press after attending the graduation …

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Former President Leonel Fernandez said in an interview with the press in Spain that he favors Dominicans being allowed to re-elect their President. The interview highlights are published in Listin Diario today. Consecutive re-election was banned in the 1994 constitutional revision. Fernandez said that when one is in government four years seems too short, but …

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