2005 – Page 86

Economist and former governor of the Central Bank of Chile, Roberto Zahler, is proposing some modifications to the laws governing monetary issues in the Dominican Republic. Specifically, he proposes changes to Law 183-02 that controls financial and monetary policies. He also proposed the adoption of standardized financial regulations by the Superintendent of Banks, and the …

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Yes, you read that right. The Superintendent of Electricity ordered the EDEs – electricity distribution companies – to return RD$25.7 million to clients who have formalized their complaints at the Superintendent of Electricity’s Consumer Protection Office. The claims deal with incorrect billing, illegal termination of service and other normal problems faced by consumers every day. …

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A ministerial mission from the Dominican Republic will be meeting with the Paris Club today. The Paris Club is a forum of debtor and creditor nations that meets regularly to discuss ways and means of repayment and rescheduling of debts. The Dominican mission is looking to obtain a second rescheduling of some of its foreign …

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In the face of growing suspicion in the Spanish press concerning poor treatment of visa seekers, and “irregular” hiring practices, the Spanish Ministry of Foreign Affairs has announced that it is beginning an investigation into the allegations. According to Diario Libre, the investigators will look into whether there is a local “mafia” that issues visas. …

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In a scene reminiscent of pictures from Kansas or New Orleans, large parts of Santiago were hit by a sudden tornado yesterday afternoon. Pictures of smashed vehicles (see Diario Libre), uprooted trees and trash-strewn streets were common. Power lines were blown down, signs toppled and traffic came to a standstill for nearly an hour. According …

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One of the nation’s best kept secrets is now out in the open: Diandino Pena, current director of the new Office for the Reorganization of Transportation (OPRET), told reporters yesterday that the new mass transit system that the government is proposing will be a hybrid. He clarified that it will be a combination of the …

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A mission from the Inter-American Investment Corporation, a branch of the World Bank, will be visiting the Dominican Republic next month with the idea of listening to the business community about their investment needs and, at the same time, show the business leader just what areas the corporation is capable of assisting. The general manager …

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Juan Hernandez, the head of the Internal Revenue office, has said that many hotels have offshore businesses established in tax havens, and this impedes the transparency of their operations in the Dominican Republic. The official explained to reporters from El Caribe that some of the businessmen in the hotel sector utilize a “triangulation” method by …

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Distance learning, pioneered in the Dominican Republic by Radio Santa Maria in La Vega, has come nearly full circle. The radio, part of the Catholic Church, will begin offering classes at the high school level beginning on 3 October as part of its answer to the growing demand for high school diplomas. Founded more than …

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President Leonel Fernandez has set up a new entity, called the Office for the Reorganization of Transport Systems (OPRET), a temporary measure aimed at designing and presenting a integrated transport project, according to a report in Diario Libre. The office was created by Decree No. 477-05, which also instructs the new department to install, operate …

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