2003 – Page 100

The government is authorizing the Banco de Reservas, Banco Agricola, Banco de Desarrollo and Banco Nacional de la Vivienda to renegotiate the repayment terms for agricultural sector debts. The loans to farmers had expired at the end of 2002, but Presidential Decree 1060-03, issued yesterday, will permit them to restructure the repayments, interest-free. It also …

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Endocrinologist Felix Manuel Escano says that over 8% of the Dominican population is diabetic and that “for each case diagnosed, there is one that is yet to come to light.” Speaking at a press conference yesterday, Escano said the condition was on the rise amongst Dominicans, especially in the poorer sectors of society. As many …

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The Dominican baseball manager could not conceal his delight at being named the American League’s “Manager of the Year” on behalf of the Baseball Writers’ Association of America. This prestigious award comes for his achievement in turning around the fortunes of his team, the Kansas City Royals. Pena received a phone call from President Hipolito …

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The national protest called by the Coordinator of Popular Organizations ended at 6am this morning, after a 24-hour period in which the entire country had been shut down. Banks and public offices were empty and the streets, for the most part, deserted. In the more populous neighborhoods, considered “hot” by the police, there were street …

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Both Hoy and the Listin Diario report extensive blackouts throughout the country. Power outages lasting up to 24 hours were reported in Villa Consuelo, Villa Juana and Ensanche La Fe, as well as most other neighborhoods of Santo Domingo. The Cibao was especially hard hit, and in Santiago over half of the city was left …

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In connection with the issue of blackouts, the Diario Libre is reporting there is a severe shortage of fuel for the generating facilities to produce electricity, and the paper offers the perspective of a possible nationwide blackout by this coming Friday. Sources close to the Haina plant confided to reporters from the DL that they …

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The Federation of Industrial Associations of the Dominican Republic (FAI) will oppose the proposed increase of the 1.5% tax on anticipated earnings and the 30% tax on incomes. Ignacio Mendez, president of the FAI, told Listin Diario reporter Candida Acosta that the proposals are irrational in a country where substantial parts of the industry and …

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The District Attorney for Santo Domingo, Maximo Aristy Caraballo, announced yesterday that he has suspended the arrest warrants for two former bankers indicted in a RD$20-billion fraud within Bancredito. Aristy Caraballo said that he was following a Presidential request to review the indictment before jailing the accused. The complaints against Manuel Arturo Pellerano Pena and …

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This week’s editorial by leading economist Pedro Silverio touches on the proposed legislation that will support the IMF agreements. Upon reading the legislation, Silverio discovered some surprising information. While the law insists upon the autonomy that must surround the actions taken by the monetary authorities, Article 2 of the proposed law says that an intervention …

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The economic section of the El Caribe reports that hotel occupation has averaged 72.8% through October, in spite of a slight decrease from the figures for September (61.5% against 63.4%). Occupancy is up 12.3% over the 2002 figures, and, according to the Hotel and Restaurant Association (ASONAHORES), only the area of Santo Domingo showed a …

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