2005 – Page 89

Former Central Bank governor and Reformist party official, Luis Toral has said that he hopes that the Dominican Congress would examine the proposed tax reform package recently sent to Congress, very carefully. It is Toral’s opinion that it may not be necessary for the government to impose a new tax package on the population. According …

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The current issue of Dominican tourist trade magazine Resumen Turistico quotes a report in Hoy newspaper about what it describes as the unprecedented decision by several major hotels to close their doors for the low season. The newspaper says that this is being done in order to reduce losses brought about by increasing costs, combined …

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The tax reform bill was submitted to Congress via the Chamber of Deputies following a meeting between President Fernandez and a group of business leaders at the Presidential Palace. Diario Libre reports that the President said the reform was “radical and deep” because it refocuses the tax system so that it is mostly based on …

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The National Hotel and Restaurant Association (Asonahores) has warned Congress that the tax reform bill presented by the Executive Branch is not the result of consensus as has been stated, and represented only the position of a part of the productive sector. Listin Diario reports that the organization is asking Congress to listen to the …

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The Mexican government is willing to unblock funds accumulated by the DR in the San Jose Agreement, amounting to approximately US$300 million, as stated by Mexican Ambassador Isabel Barbara Tellez de Ortega. Listin Diario reports that the diplomat explained there are three possible ways for the country to get those funds and said the best …

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The president of the Senate, Andres Bautista Garcia, asked the United Nations to take a more active role on the issue of Haitian migration to the DR yesterday. According to a report in Listin Diario, the lawmaker made his comments during the Second World Summit of Parliamentary Speakers, held at the United Nations in New …

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The Ministry of Foreign Relations will not disclose its official position on the scandal generated by the news that the Dominican Ambassador in Haiti, Jose Serulle Ramia, received a payment of US$48,000 from the Haitian government to celebrate a Dominican-Haitian cultural event in the Dominican city of San Francisco de Macoris (see DR1 Daily News …

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The Dominican government has made a US$50 thousand donation (equivalent to RD$1.5 million) to the people affected by Hurricane Katrina in New Orleans. Diario Libre reports that the donation was delivered to US Ambassador Hans Hertell by the Administrative Secretary of the Presidency, Luis Manuel Bonetti, as a gesture of solidarity. Hertell expressed appreciation towards …

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The US dollar was being bought yesterday at RD$0.50 less than the closing rate last Wednesday according to El Caribe. In the afternoon, it was being bought between RD$29.50 and RD$30.50 in different exchange agencies, while commercial banks closed with a minimum rate of RD$29.75 and a maximum rate of RD$30.25. The US currency was …

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According to its last report corresponding to August 2005, Fitch Ratings classified the DR as “B-“, with the observation of stable future perspectives and a level a risk similar to that of the country in foreign and local currency. As reported in Clave Digital, this can be considered an improvement from December 2003 when the …

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