2003 – Page 96

The secretary general of the PLD presented yesterday on TV a video showing the chief of the Dominican army, Major General Jorge Radhames Zorrilla Ozuna, holding an envelope with the emblem of the PRD party and removing from it a RD$20 bill as a charitable donation to an elderly man. The video was apparently shot …

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PLD Presidential candidate Leonel Fernandez urged yesterday that the government implement the necessary fiscal reform without delay. The government’s economic team had announced the measures would be postponed until July 2004, two months after the Presidential election. “We request that the government stop using these band-aids of improvised measures, and that we undertake the complete …

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In its 17 November Country Risk rating report, the Economist Intelligence Unit says that if IMF support is not restored, there will be a high risk of payment difficulties in 2004. The business information arm of The Economist Group focuses on how political issues are influencing economic outlook. “Despite his growing unpopularity and fierce opposition …

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Customs announced it would calculate import taxes on the base of RD$40.34. Hoy newspaper points out that this would translate into a short-term increase in government revenues, but in the medium term the higher rate would cause a reduction in total imports, and thus in government taxes. The exchange rate recently surpassed the RD$40 mark, …

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Apparel exports to the US were down 0.3% during the first nine months this year compared to the same period last year. According to a report in El Caribe based on data from the US Department of Commerce, these exports totalled US$1.584 billion from January-September 2003, down from US$1.589 billion for the same period in …

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Tourists from Europe would be wise to check with Dominican sources prior to arriving with their euros, as it is likely to be more advantageous to exchange their euros at home, carrying with them US dollars for their travel to the DR. Today, the Central Bank posted a buy-rate of RD$39.38 to US$1, but the …

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Almost all of the Dominican papers carried the smiling faces of Presidents Chavez of Venezuela and Mejia of the Dominican Republic, locked in a firm handshake and exuding Bonhomie. Chavez and Mejia were reported to have conversed on the discord caused by the latter’s accusation of an assassination plot being hatched in the Dominican Republic. …

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President Hipolito Mejia will be signing five agreements today as he wraps up his trip to South America that has reported brought about better relations with Venezuela and Mexico. The five bilateral agreements will be signed in Brazilia, following two days of official visits with Brazilian President Luiz Ignacio Da Silva (Lula). One of the …

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The Listin Diario reported Saturday that Enrique Iglesias, president of the Inter American Development Bank would submit a US$300 million proposal for the Dominican Republic to the IDB board. Iglesias told reporters in Santa Cruz de la Sierra, Bolivia, that the Dominican government had put together an economic plan to solve the crisis that is …

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The economic section of the Listin Diario announced that the Smith-Enron generating facility in Puerto Plata had re-entered the system, providing a much needed 100 megawatts of power to the energy-starved Cibao region. According to reporter Jairon Severino, the generator returned to service after the government made a token US$30 million dollar payment on the …

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