2003 – Page 234

Economist Frederic Emam Zade writes in El Caribe on Saturday, 24 May regarding his doubts of the merits of a Central Bank in the Dominican Republic.  Emam Zade explains that because we have a small and open economy, with trade and monetary relations closely tied to the US, like it or not, the person who …

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The president of the Federation of Industrial Associations (FAI), Ignacio M?ndez commented on the uncertainty that affects the Dominican economy, as reported in El Caribe. ?The panorama is not in anyway clear, and no one knows where the ball will go,? he said. M?ndez feels at the bottom of it all is a lack of …

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President of the Hotel & Restaurant Association Johnny Bernal said that the hotel sector considers the issuance of sovereign bonds or infrastructure notes to cover the cost of the Coral Highway inappropriate. There has been recent talk of issuing government notes in the amount of US$255 million, to pay for the construction of the highway …

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Following his return from Washington DC where he met with President George W. Bush and other leading US officials, President Hip?lito Mej?a will address the nation on the results of his visit some time in the next few days, he says. He told a group of high school students yesterday that the agreements secured with …

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Hoy newspaper editor, Bienvenido Alvarez Vega comments today on the treatment President Hipolito Mej?a received during his visit to Washington, D. C. from 19-21 May, and describes the trip as a ?palo? or homerun. President Salvador Jorge Blanco was received by President Ronald Reagan in 1984. President Bill Clinton received President Leonel Fernandez. But the …

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Hoy newspaper reports that technicians from the Department of Agriculture of the United States are scheduled to travel to the Dominican Republic at the end of summer to install facilities needed to certify beef exports to the United States. Agriculture Minister Eligio J?quez and Deputy Minister Jes?s de los Santos met with US Agriculture Secretary …

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The National Social Security Committee (CNSS) and insurers have not yet reached an agreement on the contentious points under discussion. The scheduled implementation date for the National Social Security System (Law 87-01) was postponed to allow these issues to be resolved. According to CNSS general manager Arismendy D?az Santana old-age and disability pensions would come …

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Hoy leads with the news that Central Bank governor Jos? Lois Malkum announced yesterday that he will do all that is necessary to control the soaring exchange rate. Yesterday the peso stood at a new record low, valued at RD$27.85 to the US dollar.  The recent measures aimed at curbing this that include removing RD$10 …

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The economic effects on the public are being felt more and more, local newspapers report today. As well as the sharp rise in bus fares, airline tickets have gone up by 22%, medicines by 30%, hardware store items are up another 15% and gasoline and domestic propane gas are also set to increase in price. …

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Former Dominican ambassador in Paris, businessman Luis Alvarez Renta who was removed from his diplomatic post by President Hip?lito Mej?a after being named in the Baninter case, flew into Santo Domingo?s Herrera airport on a private plane from Miami yesterday, and handed himself over to the authorities. He arrived at District Attorney Maximo Aristy Caraballo?s …

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