2005 – Page 235

Visiting World Tourism Organization secretary general Francesco Frangialli delivered to the Ministry of Tourism the preliminary report on the wide scale hotel development of beach areas in Pedernales, an area previously protected with national park status. The development project promoted by Tourism Minister Felix Jimenez promises the creation of 17,000 jobs in the scantly populated …

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The Dominican Republic need pay US$100,000 in penalties to international financial organizations for loans taken by the past government that will not be disbursed. Vicente Bengoa said that the internal and external debt of the government surpasses US$13 billion. He said that the government has notified the US government agency Exim Bank that they will …

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Mario Mendez, economic editor of Hoy newspaper, focused on how the level of domestic debt in the form of Central Bank certificates is growing faster than the foreign debt given the higher yields. The Central Bank has resorted to issuing certificates in order to counteract the monetary impact of the increase in accumulated reserves. This …

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Richard Lueje, president of the National Young Entrepreneurs Association, considered alarming the indebtedness level of the country, equivalent to 52% of the Gross Domestic Product, and expressed concern regarding the Central Bank placement of more than RD$120 billion in savings certificates. Lueje spoke during the workshop, “Strategy for Sustainable Growth in the DR: Challenges.” Lueje …

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Dominican-born Carlos Asilis, a former US equity strategist at J.P. Morgan now with New York-based hedge fund Vega Asset Management, in a talk at the “Strategy for Sustainable Growth in the DR: Challenges” workshop organized by the National Association of Young Entrepreneurs (ANJE) spoke of all the catching up the Dominican Republic has to do …

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Monetary authorities said that 25 companies have presented their offers of services in the selection of investment fund managers and securitizers to participate in Central Bank Asset management. Of these, 12 are from the United States, Argentina, Mexico, Puerto Rico and Portugal, according to a Central Bank release. The deadline for the presentation of these …

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Hoy newspaper Coctelera column comments today that every Dominican should be concerned about the deficit of public school classrooms. He urges that the government vary its policy for building the schools. He says that the government program contemplates the construction of so-called school “palaces”, even in far away communities. He mentions that these cost millions …

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Vice President Rafael Alburquerque announced his department is undertaking a socioeconomic study to quantify and find solutions to the social problems caused by the springing up of slum areas in booming tourism destination areas, as reported in Clave Digital, the online news agency. Speaking in Punta Cana at an event organized by Funglode, the think …

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A mobile phone video permitted the exposing of AMET brutality. Gabriel Mateo Lespin brutalized by three AMET traffic officer was exposed on TV news programs nationwide. New Penal Code requirements of reading him his rights before arresting him and taking him to jail were forgotten by the AMET officers. Mateo said he did not know …

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The Fernandez government disbursed a RD$68 million payment to the Consorcio Federici, Mera Munoz y Fondeur to finish the bridge over the Higuamo River in San Pedro de Macoris. News reports did not indicate if this would be enough to complete the bridge. Public Works Minister Freddy Perez said that the bridge should be in …

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