2001News

Alert to the high cost of recent governmental borrowing

El Caribe newspaper warns that in only nine months, the Mejia administration has sent to Congress projects needing US$505 million in short term government loans with foreign commercial banks. This contrasts with the US$240 million taken out by the previous Fernandez administration with foreign commercial banks in four years. Newspaper executive editor, Bernardo Vega writes …
2001News

Caribbean customs departments block free trade

Dominican businesses are urging Caribbean countries to implement the free trade agreement recently passed. While the governments have passed the agreement, Customs Departments in several Caribbean islands have not allowed Dominican goods shipments to enter duty free. To pressure the Caribbean islands to comply, local business groups requested that the Dominican customs department retaliate by …
2001News

President Mejia favors increasing DR’s foreign debt

President Hipolito Mejia said his government is giving priority to issuing the country’s first sovereign bonds. Plans to place US$500 million in bonds on the market are going ahead. He defended his administration’s borrowing abroad saying it is a way to accelerate social and economic development. He said economists and politicians that oppose the borrowing …