2005 – Page 128

Standard & Poor’s issued a 15-page comprehensive assessment of the B/Stable/B credit ratings of the DR on 20 July. Standard & Poor’s states that the stable outlook balances improved economic prospects and moderate government debt levels with weak institutions and the large quasi-fiscal deficits of the Central Bank that constrain monetary policy. It comments that …

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Diario Libre reports that the demolition of “Cristobal Colon” port terminal began yesterday as part of the Santo Domingo port renovation project, which is undergoing development by Inversiones Turisticas Sans Souci. The concrete building located on the western side of the port, where the ferryboat to Mayaguez, Puerto Rico used to dock is to be …

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The Cinemateca is presenting a collection called “Jewels of European Cinema” from 21 to 27 July during which films of great artistic and technical quality, both classical and contemporary, are being shown. Among the films are “Electra” (1962) by Michael Cacoyannis, “Z” (1969) by Costa Gavras, and “Hey Babu Riba” (1986) by Jovan Acin. For …

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Gypsies singing to God, or a Flamenco Mass will be presented at Plaza de Espana in front of the Columbus Alcazar in the Colonial City. Not to be missed, this is scheduled for the evening of Saturday, 23 July. This is one of the most applauded Spanish cultural events. It is a production of Fundacion …

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Foreign Relations Minister Carlos Morales Troncoso has defended the DR’s right to establish diplomatic relations with the countries it considers pertinent, without having to take into account the relations between other nations, as reported in the Listin Diario. He also considered that the US must respect the decisions that the DR government takes regarding the …

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The Executive Director of the Electric Sector Recovery Committee, created to direct the state’s electric policy, recommended that President Leonel Fernandez authorize the contract for the installation of two coal-fired generators in a rush to complete the deal with Westmont. The resolution with the recommendation was signed by the Energy Commission director, Ruben Montas, the …

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El Caribe reports that Central Bank Governor Hector Valdez Albizu, believes the DR is at a good moment in the handling of its monetary and tax policy, that could serve as a model for other nations in the area. Valdez was speaking at the launch of a seminar on “Design and Implementation of Monetary Policies …

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Senator Jose Hazim Frappier warned yesterday that without compensation for the productive sectors the Dominican Republic – Central American Free Trade Agreement with the US won’t be approved here, even if the US Congress approves it first, as reported in Hoy. He insisted that he is committed to defending local producers, in the same way …

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Diario Libre reports that the avocado producers branch of the Dominican Agribusiness Board (JAD) has asked for the Senate’s intervention to help them ship 200 containers loaded with the product to the US. Gustavo Florentino explained that the avocado trade is threatened by the US Department of Agriculture’s ban on the Semil 34 variety of …

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The Federacion Nacional de Transporte Dominicano (Fenatrado), the truckers union that imposes its services on local business, is announcing a 30% increase in its tariffs for transporting cargo nationwide. Union president Blas Peralta said that the increase is due to increased fuel costs, and the new tollbooths the government has installed in the Nagua-San Francisco …

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