2004 – Page 164

Christina Malmberg-Calvo is the new representative of World Bank in the Dominican Republic. She replaces Marco Mantovanelli, who was promoted to vice-president of foreign affairs at the World Bank headquarters in Washington, DC. Mantovanelli represented World Bank for five years in the DR. An economist, Malmberg-Calvo has worked extensively in the areas of transport and …

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The commercial ties and friendship between music promoter Bienvenido Rodriguez (of Karen Records) and Latin American contemporary music legend Juan Luis Guerra are breaking off at a fast pace, reports El Caribe newspaper today. The newspaper says that the cooled relations have delayed the launch of Guerra?s new production, ?Para ti,? which had been scheduled …

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President Hipolito Mejia sent to the Senate a bill that would offer government import tax exemptions for mayors and deputy mayors who purchase luxury vehicles. Most of the mayors and deputy mayors are members of the ruling PRD party that Dominicans voted against in the 2004 election. There are no limits contained in the bill …

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The Mejia administration increased its borrowing from commercial banks by 25%, taking on RD$5 billion more in debt in the first four months of the year. The Mejia administration owed domestic commercial banks RD$19.9 billion as of 31 December 2003, but this increased to RD$25 billion as of the first week of May. Private bank …

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President-elect Leonel Fernandez spoke out against the changes the Mejia administration and the PRD-majority Congress have made to the Sectoral Protected Areas Bill, which will permit the construction of hotels and mining developments on lands that currently enjoy nation park status. Fernandez said that as President of the Republic he would not sign such a …

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The Dominican Liberation Party (PLD) announced which names would form the Transition Commission, the body in charge of receiving the government from the Mejia administration. The group is headed by Danilo Medina, Temistocles Montas and Daniel Toribio. Other members include Jose Francisco Pena Guaba, Jose Gonzalez Espinosa, Max Puig and former Vice-President Carlos Morales Troncoso. …

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The ousted president of the PRD, Hatuey Decamps, met yesterday with President-elect Leonel Fernandez at the Fundacion Global Democracia y Desarrollo to offer his collaboration in the name of good governance. Decamps led the faction of the PRD that opposed the re-election of President Hipolito Mejia and firmly stood his ground. Decamps has announced he …

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Hoy reports that speaking to the press on occasion of the visit made to him by Hatuey Decamps (PRD), Fernandez said that, for his part, there would be no retaliation for or persecution of President Hipolito Mejia in the understanding that ?he has exercised the role of President and should be respected as such.? Nevertheless, …

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Economist Frederic Emam Zade alerts on rumors circulating regarding the sale of assets of autonomous government entities, which do not require Congressional approval. He said the Corporacion de Fomento Industrial (CFI), which manages government free zone industrial free zone plants, should clarify whether or not they have up for sale 60,000 square meters of industrial …

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Practically half of the more than RD$100 billion in certificates of deposit held at the Central Bank as part of the monetary policy to reduce money in circulation will fall due by 20 June, prior to the government turnover on 16 August. The redemption of such a high volume of CDs would fuel inflation to …

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