2005 – Page 248

Economist, historian and businessman Bernardo Vega writes in El Caribe about the “good” that former dictator Rafael Leonidas Trujillo Molina did for the Dominican Republic. For a generation, a massive public relations campaign molded public opinion about the dictator and much of that propaganda still persists in Dominican thought. One by one, Vega disassembles the …

Read more…

Over the past four years the trade deficit between the Dominican Republic and five Central American republics has grown by 1,746%. In 2000, when the DR signed a free trade agreement with El Salvador, Guatemala, Costa Rica, Honduras and Nicaragua, the deficit was US$6 million. Today the figure stands at close to US$99 million. A …

Read more…

Finance Minister Vicente Bengoa said that the public sector debt with private banking increased 967.6% during the past government, as reported in El Caribe. The government debt with commercial banks increased from US$661 million in 2000 to US$7.06 billion in 2004, according to Bengoa. He said that the DR has international financial obligations for US$10.9 …

Read more…

Technical Secretary of the Presidency Temistocles Montas announced yesterday that the country paid US$27 million on the sovereign bond coupon that expired 23 January 2013. He said the country had savings of RD$557 million when making the payment compared to the interest paid last semester when the US$1 commanded RD$50. In a statement, Montas said …

Read more…

Metro Minister Diandino Pena told the Listin Diario that if Congress does not give green light to borrowing for the construction of the metro, the government would seek financing elsewhere. He said the private sector could finance the metro. Pena said that the President is determined to defend the project to the last consequences. Pena …

Read more…

Senator Jose Tomas Perez (PLD-Santo Domingo) suggested that President Leonel Fernandez consult the PLD party before embarking the government on the metro mega project. The government has budgeted US$20 million for the studies to start the construction this year. He argues that the President should consult the party because assigning priority to this work could …

Read more…

The president of the PRSC, engineer Federico Antun Batlle says that the PRSC party legislators would not vote in favor of taking on a loan to fund the metro. Antun Batlle disputes the nation should take on a project as costly as the metro for Santo Domingo. “The Reformista Party does not oppose the modernization …

Read more…

Santo Domingo Mayor Roberto Salcedo is backing the construction of the metro. He said that as soon as the plans reach the city government, these would be approved by the Urban Planning Office. He said he was convinced when he learned about the successes of the metros in Chile and Venezuela. He trusts that the …

Read more…

Political scientists Pedro Catrain and Cesar Perez told Hoy newspaper that the government of President Leonel Fernandez has not demonstrated political will to fight corruption and there has just been talk, no action. As the Bible says, they will be judged according to their conduct and their actions, says Catrain. He says so far there …

Read more…

Tourism Minister Felix Jimenez opposes the elimination of tax incentives to the tourism industry that fall under Law 158-01. The monetary and economic authorities of the country committed to propose to Congress the elimination of special tax regimes, such as that authorized by the law. The commitment is made in Paragraph 19 of the section …

Read more…