2004 – Page 109

Central Bank Governor Jose Lois Malkun has received no less than 20 judicial citations to appear before the courts and explain the current economic crisis. In an exclusive interview for El Caribe, Lois Malkun told reporter Edwin Ruiz that he would not leave the country, but, because of the stature of his position, he had …

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As the legislature begins the last week of its extended session, the tax reform bill will face its toughest challenger: the PRD. This afternoon, the final report from the finance commission of the lower house should be ready, after their study that began last Thursday. The soon-to-be-opposition PRD party, however, did not even respond to …

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According to Frederic Emam-Zade, an economist for Leonel Fernandez?s Foundation for Global Development and Democracy, the new ?giant package? comes at a bad time and does not respond to national interests. Emam-Zade told Carmen Carvajal from Hoy that the PLD party technicians fell into ?a trap? set by PRD officials. In his opinion, the PLD …

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Mario Mendez, the economic editor of Hoy, asks, if the business community and the unions are against Law 28-01, just who is benefited by it? Law 28-01 creates wondrous conditions of tax exemptions, among other incentives, to lure businesses to the frontier provinces. The DR?s industrial association says that the law produces unfair trade conditions …

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The Monetary Board issued a resolution that will allow the commercial banks to obtain capital by placing preferred shares in dollars on the market. According to the information obtained by Hoy, the banks can use this new instrument at a time when the authorities are calling for stronger positions in their patrimony. Common stock had …

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The energy deficit in the Dominican Republic is currently such that the country evokes an image of the XIX century rather than the modern day. According to accounting and consulting firm Grant-Thornton, the solution to the problem lies in a reduction of the high costs, a reduction of stolen electricity, a reduction in the tariffs, …

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Jose Luis Moreno San Juan, the head of the Energy Institute at the UASD university, voiced his position that the removal of the sanctions imposed by the General Electricity Law on non-fulfillment of service has given the companies even less reason to produce electricity. He calls the situation a ?mess? that exists because there is …

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According to Public Health Minister Dr Jose Rodriguez Soldevila, the comments made by Dr Defillo and others reported by DR1 News last Friday were unjust and self-serving. The official denied that the hospitals have become depositories for the sick and dying, and said that Defillo was ?cutting wood from a fallen tree,? a Dominican saying …

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In spite of rumors to the contrary, there has been no trace of the 79 people that left the tiny dock on the Barracote River last 29 July en route to Puerto Rico. Neither the United States Coast Guard nor the Dominican Navy has been able to find any evidence of the boat or any …

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US Trade Representative Robert B Zoellick, the Dominican Republic?s Minister of Industry & Commerce Sonia Guzman and representatives of five Central American nations affixed their signatures to the United States-Dominican Republic-Central America Free Trade Agreement (DR-CAFTA) in Washington, DC yesterday. The historic agreement creates the second-largest free trade zone in Latin America for US exports …

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