2003 – Page 80

David Anthony, chief economist for the Latin American Department and the director of the Country-Risk area of The Economist Intelligence Unit, told El Caribe’s reporters that the Dominican Republic would have a liquidity crisis if it does not sign with the IMF within two months. According to Anthony, he cannot see an end to the …

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The Intelligence Unit of The Economist is looking for a lowered exchange rate by the end of 2003, aiming for a target of RD$35 pesos to US$1. For the year 2004, the Economist sees the dollar at RD$37.80. These projections cover the period during which the IMF agreement will be in effect. The Economist expects …

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The AIG Global Trade and Political Risk report for December is reporting that the DR “faces a shortage of foreign exchange and may soon have to impose formal exchange controls. Newspaper reports and major indicators suggest that informal controls have already been imposed and sovereign risk has risen to levels that may not be adequately …

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After a brief respite, the price of gasoline and diesel rose to historic new highs on Saturday. Premium was pegged at RD$73.64 per gallon, regular at RD$66.38 and diesel at RD$52.22. The Industry & Commerce continues to practice its policy of lowering the sale price just before announcing new highs. The propane situation improved as …

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The government-intervened Listin Diario reported that some of the sectors generating hard currencies, such as tourism and industrial free zone companies, will support the efforts of the Commission to Follow Up and Supervise Currency Operations, as recently created by President Hipolito Mejia. Johnny Bernal, a spokesperson for the National Hotel and Restaurant Association (ASONAHORES), told …

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The Diario Libre reported on Saturday that one in five homes in Santo Domingo is not assured its daily sustenance. According to a study conducted by the World Food Program and the IADB, 19.8% of the homes in Santo Domingo run the risk of not eating on a daily basis. The report covers five areas …

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El Caribe newspaper interviewed Julio Cordero, the administrative director of the Education Ministry, for its Sunday edition. Cordero explained that the ministry depends on the disbursements released by the National Budget office and that so far this year they have only received 57% of their allotted resources. 2003’s National Budget 2003 authorized the ministry disbursements …

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A private construction company has already snatched up a part of the Mirador del Sur Park for the construction of parking area for the tenants of a highrise luxury building. Now, according to Hoy newspaper’s Sunday edition, a similar appropriation is planned, this time with the takeover of an even greater area – 6,700 square …

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The president of the PRD party, Hatuey de Camps, received 72% of the vote in the first ruling party primary held, yesterday. With the first bulletin issued at 11pm last night, and 6.8% of the votes counted, De Camps was down for 26,749 of the votes. Next was former PRD senator for Santiago Jose Rafael …

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Anibal de Castro of the Diario Libre newspaper writes today on the power of promises. “Fortunate is the country that has as its President Hipolito Mejia, a man of his word, who has met the exchange rate problem as would a warrior: with the military. Now, he travels the nation like any other PRD Presidential …

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