2004 – Page 258

Monday, 26 January is a holiday in the Dominican Republic to commemorate the birthday of Juan Pablo Duarte, the patriarch of Dominican nationality. Thus, DR1 Daily News will not be updated on Monday. News for that day will be compiled with the Tuesday, 27 January edition. Note that any breaking news over the long weekend …

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Diario Libre reports that Central Bank governor Jose Lois Malkun traveled to Washington yesterday for meetings with representatives of the International Monetary Fund. Before he left, he declared he would be meeting with key IMF executives to “finalize the details for the signing of an agreement of understanding.” He added that the country is very …

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The Chamber of Deputies has passed the proposed “Programa Excepcional de Prevencion del Riesgo para las Entidades de Intermediacion Financiera” program for the prevention of risk for the financial intermediary entities. Despite vigorous debate, the deputies granted urgent approval of the first reading of the proposed law, which seeks to create a fund for the …

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The newspapers this morning focus on the worsening crisis in the fuel sector. Hoy newspaper’s lead stories talk of fuel rationing and continued price rises. Commerce & Industry Minister Sonia Guzman accepts that the fuel price increases are likely to continue because of the falling value of the peso, which yesterday continued its downward spiral …

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Discipline is essential if confidence is to be restored, says Marco Mantovanelli, the World Bank’s representative in the Dominican Republic. The bank is currently studying a strategy for supporting the DR for 2004, in order to mitigate the social impact of the current economic crisis. Interviewed in Diario Libre, Mantovanelli explained that the World Bank …

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Listin Diario’s lead story this morning says that importers have decided to take pressure off the exchange market by putting the purchase of US dollars on hold, until the exchange rate is stabilized. Domingo Espinal Collado of the Dominican Importers and Warehouse Owners’ Association (ADAI) told the newspaper that the importers are in the process …

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Traffic police AMET and the municipality of Santo Domingo have declared war on “chatarras,” the many abandoned vehicles that populate the city’s roadsides and clutter the sidewalks. Many of these decaying wrecks will be removed by the authorities in the coming weeks. Warning notices will be served, allowing owners five days to dispose of the …

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The news that Supreme Court Chief Justice Jorge Subero Isa has been under pressure to resign has rallied support from diverse quarters exhorting him to resist the coercion and remain in his post. Civil society organizations, the Church and the opposition PLD, as well as the ruling party PRD, have all asked Subero Isa to …

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Radhames Jimenez, secretary for legal affairs of the Dominican Liberation Party (PLD), accused the government of seeking to levy an institutional coup at the Supreme Court of Justice. As reported by CDN, Jimenez said the plan would set back the achievements in justice and that was why Chief Justice Jorge Subero Isa warned he could …

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Longtime political analyst at the Listin Diario Orlando Gil says that Dominicans will have to await Chief Justice Jorge Subero Isa’s return from Costa Rica to get his explanation of the reasons for his threat to resign. Meanwhile, Gil mentions that among those who could replace Subero are Supreme Court judge Eglis Margarita Esmurdoc Castellanos, …

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