2003 – Page 290

The Central Bank announced that it has ceased providing the government with dollars at the subsidized price of RD$17.56, instead of the real market price, now at RD$23.65. In an article reported in last week?s DR1 News, it was stated that the Central Bank had provided roughly RD$4 billion pesos in subsidies for government purchases …

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Apparently, the Armed Forces did not think that anyone was going to read their report to Congress, which showed a withdrawal of 66 pistols and 28 revolvers with names like ?Sudden Light? from their 2002 operations. The report also indicates that the forces issued nearly 8,000 new gun permits. According to the Diario Libre, the …

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While Hip?lito Mej?a?s rhetoric has traditionally focused on the poor, the President expressed his concern last week for the welfare of the middle classes. Recent economic conditions, such as the increasing cost of fuel, devaluation of the peso, high bank rates, and rising power bills, have been steadily eroding the buying power of the middle …

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Finance Minister Jose Lois Malkum announced that the government is seeking a US$200-million loan to create a fund that will help pay wages for at least 12 months to government employees in return for their voluntarily resignations. Malkum has identified an excess of 128,000 government employees, but now announces the cushioning measures for their removal. …

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President Hipolito Mejia authorized the promotion of more than 8,000 members of the Armed Forces and the National Police. These promotions come with significant wage increases, at a time when the government is requesting austerity from the Dominican population and has rejected increases for the education and health sectors.  The Mejia administration has been one …

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The value of the peso continued to appreciate in relation to the US dollar over the weekend, with exchange houses now paying RD$22.50 to RD$23.50 to US$1. The peso started to gain market value after the government implemented measures to decrease money in circulation and discourage consumer spending. The same measures have led to record …

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Listin Diario reports that the government has decided to gradually reduce the exchange commission on dollar transactions. The Monetary Board announced that it would reduce the exchange commission by 0.25 percentage points every quarter, as of October 2003. The exchange commission was initiated on such transactions on 24 January 1991, and the revenues generated are …

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Diario Libre reports that the Department of Migration estimates at approximately 850,000 foreigners are residing illegally in the Dominican Republic. Only an estimated 150,000 of roughly one million foreigners living in the DR have formalized their status legally. Miguel Vasquez, director of the Department of Migration, said that Haitians make up the largest number of …

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Deputy Radhames Ramos Garcia (PRD-La Vega) was released on Friday, 28 February from the La Vega jail where he had been detained while awaiting his trial for allegedly having smuggled 16 Chinese nationals into the Dominican Republic. Ramos turned himself in on 15 February when the legislative sessions paused for a two-week break.  As a …

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The power struggles over southwestern transport routes continued last week as Juan Hubieres, spokesman for the Fenatrano union of private transporters, vehemently protested the decision of the OTTT to authorize competing union Conatra buses that cover the San Cristobal-Santo Domingo route to pick up passengers on Avenida Independencia. Fenatrano feels that the passengers on the …

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