2004 – Page 53

During a press conference yesterday, Presidential Technical Secretary Juan Temistocles Montas announced the successful negotiation of a EUR150-million emergency soft loan financial assistance package from Spain, to be disbursed as soon as the IMF agreement is resumed. According to the report in Hoy newspaper, he said these funds are intended for infrastructure projects and that …

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The Dominican government announced yesterday that the Paris Club has accepted the proposed strategy to restructure the DR’s public external debt while complying with the Paris Club’s comparability of treatment requirement. In a press conference at the Presidential Palace, Technical Secretary of the Presidency Juan Temistocles Montas, Finance Minister Vicente Bengoa and economic advisor to …

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The Social Christian Reformist Party (PRSC) came forward yesterday to oppose a RD$500-million disbursement of taxpayers’ money to the Central Electoral Board (JCE) for the organization of the political parties’ primary elections, as per a modification to the Electoral Law pushed through Congress recently. The PRSC called this a disservice and an affront to Dominican …

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The US International Trade Commission (ITC) released a report yesterday that assesses the proposed DR-CAFTA trade agreement’s impact on the US economy, specific industrial sectors and the interests of US consumers. The agreement was signed this summer between the US government and five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua) and …

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AES EdeEste says it has not breached the legal limit placed on authorized generation, as set forth in Electricity Law 125-01, because the company that generates power is a separate entity from AES EdeEste. The law in question specifies that no company may supply more than 15% of the national demand for electric generation. A …

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The Customs Department reported it had reached an agreement with the Plaza Lama department store. As reported in El Caribe, sources representing the store told the newspaper that a mutual agreement had been struck and that they had always been willing to fulfill the law and taxes. Customs issued an official communique to advise that …

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Dominicans will be glued to their TV sets tonight and the final Red Sox-Yankees game ? one that seemed implausible after Boston lost its third straight game last Saturday. The winner of tonight’s game will win the American League pennant and a place in the upcoming World Series. Regardless of the results, however, fans in …

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President Leonel Fernandez urged a reform of the educational system in the Dominican Republic in order to respond to the true needs of the new economic and social development models the nation needs to immediately adopt. He announced the creation of the National Commission for Excellence in Education, a forum that, as of January, would …

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September’s tax collections were 7% less than those of August, says a report in El Caribe today. The newspaper indicates that the decline does not appear to be related to the regular cycles of the economy, given that in September 2003 the tax department reported an 11.7% increase (up RD$416 million) in tax revenues for …

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An IMF delegation arrived in the DR last night to continue talks on the letter of intent the Dominican government is to submit in order to resume the stand by agreement with the IMF. Stevens Phillips heads the 10-person mission that will be working with the Dominican economic team. As reported in the Listin Diario, …

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