2001 – Page 32

2001 News

Sovereign bonds issued

The Dominican Republic has sold a five-year, US$500 million bond yielding 9.5%, as news headlines report today. The funds will be available in the Central Bank starting 27 September. 79% of the bonds were placed in the US, 20% in Europe and 1% in Latin America. Minister of Industry and Commerce, Hugo Guiliani Cury, said …

2001 News

Exchange rate commission to be reduced

Following the announcement of the sovereign bonds, President Hipolito Mejia said monetary authorities will begin on 1 October to reduce the exchange rate commission, thus reducing costs of goods sold locally. Mejia reaffirmed that his government will still insist on imposing the 1.5% tax on gross sales to businesses making more than RD$6 million in …

2001 News

President defends ban on re-election

President Hipolito Mejia argues that a ban on the re-election of any past President will open doors for new politicians. He said it is time to open doors to new leadership without the selfishness or arrogance of those who know it all. Costa Rica has a similar system. The bill would impede the ruling party’s …

Mexicana to fly from Cancun

Minister of Tourism Ramon Alfredo Bordas announced the start of operations of Mexicana de Aviacion from Cancun. The Mexicana schedule starts 5 November. The airline will fly Mexico City-Cancun-Santo Domingo three times a week. Bordas also announced that Aerocontinente, a Peruvian airline, would start new flights to Santo Domingo. These are Lima-Santo Domingo-Miami and Lima-Santo …

2001 News

Impact of terrorist attack on the Caribbean

David Jessop, executive director of the Caribbean Council based in London, predicts that the terrorist attacks on the US will have on impact on air and cruise ship travel in the Caribbean, financial centers in the region, remittances, the issuing of bonds, agriculture, and even narcotics production and shipment. “In short, the region’s situation may …

2001 News

Five-year-old boy could be deported from Germany

The Junta Central Electoral, the court in charge of civil registration, ruled that the first birth certificate issued to a five-year-old boy living in Germany is not valid and that the second birth certificate is the valid one. Dominican Luz Maria Salas Sosa wed German Heinz Landolin Steinhauser (who died in February 1999) and together …

2001 News

Lashing out against civic society

President Mejia said that he will not allow members of the civic society to set guidelines for his government. He specifically referred to Francisco Alvarez, Melba Barnett and Francisco Dominguez Brito, leading members of civic society organizations that joined together under the Coalition for an Independent Justice to lobby the government not to appoint well-known …

2001 News

Mejia asks Corporan to run for mayor

El Siglo newspaper reports that President Mejia has asked TV-radio producer Rafael Corporan de los Santos to accept the (PRD) nomination for mayor of Santo Domingo. Corporan was mayor of Santo Domingo from 1990 to 1994. He is regarded as a much better TV-radio producer than a mayor.

2001 News

Businessmen call for government cost-cutting

The president of the National Council of Business, Marino Ginebra urged the government to cut its payroll, which has gone up 34% in the first year of the Mejia administration “without reflecting any improvement in the services provided by the state.” He spoke during the American Chamber of Commerce luncheon as reported by the Listin …

2001 News

Yesterday’s political show

Former President Leonel Fernandez spoke in a press conference yesterday after being interrogated for four hours on his government’s handling of RD$1.4 billion for construction and reconstruction works. The account was handled during the last eight months of his administration. Fernandez said he was not summoned because of concerns of theft but to request technical …

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2001 – Page 32

Sovereign bonds issued

Exchange rate commission to be reduced

President defends ban on re-election

Mexicana to fly from Cancun

Impact of terrorist attack on the Caribbean

Five-year-old boy could be deported from Germany

Lashing out against civic society

Mejia asks Corporan to run for mayor

Businessmen call for government cost-cutting

Yesterday’s political show