2004 – Page 274

Economist Rolando Reyes said in an interview with Hoy newspaper that he does not believe the IMF would resume the agreement with the DR as long as the foreign exchange black market is thriving. In the interview published yesterday, Reyes commented that if the market were liberalized again, the exchange rate on the formal market …

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Economist Rolando Reyes forecast that the peso will continue to depreciate in 2004, despite the increases in remittances, tourism receipts and Dominican exports. Reyes based his prediction on the present excess in money supply. He said in an interview with Hoy newspaper yesterday that it is urgent the government remove RD$10 billion to RD$15 billion …

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Economist Rolando Reyes told Hoy newspaper yesterday that the Central Bank has lost its credibility, evidenced by the last two certificate of deposit auctions held by the bank. Of the total RD$7 billion worth of certificates, the Bank was only able to place RD$2.5 billion, leading Reyes to conclude that the certificates have lost their …

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Economist Rolando Reyes questioned whether the government has set aside sufficient money in this year?s budget to pay the foreign debt. He said that there is ambiguity in the revenue estimates contained in the budget because the initial plan was to increase revenues by extending the application of the ITBIS tax to more products. At …

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The political committee of the Dominican Liberation Party (PLD) publishes today a full-page advertisement comparing foreign debt taken on by Dominican governments since 1962. Presidents & debt upon leaving office: Rafael Bonnelly (Uni?n C?vica – January-December 1962): US$13 million; Juan Bosch (PRD – December 1962-September 1963): US$4 million; Donald Reid (Triumvirato – 1963-April 1965: US$154 …

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The Dean of the Economic School of the Pontificia Universidad Cat?ica Madre y Maestra, Pedro Silverio, revisits the missteps of the 2003 fiscal managers of the Dominican Republic. He begins with the exchange crisis left over from 2002 that brought about the US$600-million sovereign bond issuance that was meant to change the profile of the …

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The US Embassy says the deadline to apply for the 2004 Fulbright Foreign Language Teaching Assistant Program is 15 January. The program recruits and places approximately 100 fellows in US universities and colleges for one academic year. FLTA fellows are expected to teach two classes and are required to enroll in at least two US …

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El Caribe reports that the brotherhood Cofrad?a de los Congos de Villa Mella celebrated the traditional Feast of Kings yesterday, at the Brotherhood?s Museum in Villa Mella. As reported previously in DR1 News, the fraternal society dates back almost 400 years and has been declared a United Nations cultural monument. The government?s last-minute change to …

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