2003 – Page 238

In a decree published in today?s newspapers, President Hip?lito Mej?a declared the construction and reconstruction of the national highway system a high priority. President Mej?a will thus allow the free import of AC-30 and RC-2, the two principle bases for making asphalt, by way of Decree 503-03, which will allow anyone to import the two …

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The Monetary Board of the Central Bank of the Dominican Republic has implemented new rules that will take more than RD$12 billion out of circulation, reports today?s El Caribe. The initiatives of the Monetary Board include an additional 5% increase to the legal reserve for current liabilities of commercial banks, and a 20% reserve on …

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The Emerging Markets Research department of the J P Morgan Securities firm focuses on the Baninter crisis and pinpoints what it calls a failure to clarify the banking crisis risks are compounding the vulnerabilities. ?We remain concerned about the continued lack of transparency, and the fact that the government was caught unawares by the magnitude …

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Opposition to a new multimillion-dollar bond issuance grew stronger yesterday in Congress. The head of the Permanent Finance Committee of the Senate, C?sar D?az Filpo, felt that passing the new issue would be ?crazy? considering the delicate condition of the economy. Deputies Ovi Sald?var and Marino Mendoza asked the government to be more prudent. PLD …

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Four members of the board of directors of the Asociaci?n Popular de Ahorros y Pr?stamos (APAP) ? H?ctor Mateo, Ligia Bonetti de Valiente, Pedro T. Esteva Troncoso and M?nica Armenteros de Torr?n ? have requested in a letter to Superintendent of Banks Julio Cross the resignation of APAP executive vice president Azor Hazoury, and board …

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The head of the Federation of Industrial Associations (FAI) concurred with the position taken by CONEP, saying that the fraud at Baninter will take years and many governments to resolve completely. Ignacio M?ndez, president of FAI, said that the problem of Baninter not only places the government in a straightjacket, but Dominican society and its …

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According to Julio Cross, now the Superintendent of Banks, the International Monetary Fund (IMF) praised the steps taken in the intervention of Baninter and the fact that an ?eventual avalanche? was averted. The official also said that he has given all his support to a project began by his predecessor that will provide a consolidated …

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The municipal government for the National District of Santo Domingo began its program to clean up the city. ?Zero Week? calls for an end to banners, posters and other propaganda attached to public utility polls or on the walls of public buildings. According to Mayor Roberto Salcedo, a group of 3,000 will take part in …

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According to Hoy newspaper, the National Police cracked the case of the kidnapping of businessman John Alexis Dum? last December. Investigators from the Department of Criminal Intelligence arrested Manuel F?liz, and Ram?n Antonio Fulgencio Echavarr?a (Tuti), while they remain on the lookout for Ram?n Antonio F?liz and three other people for their participation in the …

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Diario Libre reports that while seven Albanians did get by Dominican Immigration authorities, the group was subsequently arrested in Miami. The Albanians used false French and Italian passports that evaded the scrutiny of the immigration staff at the Las Americas airport. As a result, the entire shift have been relieved of their duties and are …

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