2004 – Page 134

Economist Frederic Emam Zade of the Fundacion Global Democracia y Desarrollo, President-elect Leonel Fernandez?s research center, would favor that the incoming government drastically cut spending and reduce taxes to alleviate the economic crisis. Contrary to those who advocate a new ?paqueton? of taxes, Emam Zade said that the majority of the Dominicans want the government …

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PUCMM economy professor Federico Cuello comments today in El Caribe newspaper that while there is lots of talk about increasing government revenues there is little talk about improving the quality of government spending by making it more effective and progressive. ?Government spending is effective when it attends to social needs that the private sector cannot …

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Mayor Roberto Salcedo of the city of Santo Domingo says he will not allow the company Parqueos Dominicanos to install 1,700 parking meters on city streets. This company reportedly received a contract to put up the equipment under Salcedo?s predecessor, Johnny Ventura, who oversaw the city government from 1998 to 2002. The contract was supposedly …

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El Caribe newspaper has been following the incredible story of four Southwestern city governments (Janico, San Jose de las Matas, El Rubio and Juncalito) that have reportedly signed ?global promissory notes? for US$281 million with the Fundacion Luz Riggio that was incorporated in April. The city governments? promissory notes guarantee investments of US$1 billion, according …

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The high cost of operating Dominican airline companies, due to excessive taxes and the fact that many costs must now be paid in US dollars, could soon mark the demise of the fledgling Dominican aviation industry, according to a report in El Caribe today. Isabel Patin, of Servicios Aereos Profesionales, says that company yields are …

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The Presidential Council for AIDS in the Dominican Republic (COPRESIDA) reports that the prevalence of AIDS among pregnant women aged 15-24 years has declined to less than 1% in the National District and Province of Santo Domingo. He attributed this to an increased use of condoms and a lesser number of sexual partners of the …

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The 63,000 residents of the border province of Elias Pina have been disconnected from the rest of the country. After the late-May rains destroyed the bridge and roads there, the people of the impoverished province have been left to fend for themselves, as reported in the ?Que se dice? column in Hoy newspaper. The writer …

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President Hipolito Mejia was adamant in stating he would submit the tax reform proposals to Congress and turnover the lands of the Herrera Airport to the new owners on 9 July. Appearing on the weekly television series “Una vez a la semana,” the President said the tax proposals would include a salary increase for the …

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As an economist and former Central Bank governor, Bernardo Vega spoke to the Young Entrepreneurs’ Association (ANJE) and suggested there were five alternatives to the current IMF Stand By Arrangement. At the start of his talk Vega proposed that the accord be replaced by an “Extended Fund Facility” with the idea of obtaining a greater …

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Temistocles Montas, a leading PLD member and Guillermo Caram, a former Central Bank governor and leading member of the PRSC, told reporters on Saturday that the PLD was not contemplating any overall salary increase at the present time. Montas called President Mejia’s comments on the subject “demagoguery,” in reference to Mejia’s statements that the tax …

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