2005 – Page 95

The Executive Director of Pro-Reforma and Technical Coordinator of the National Commission for Ethics and Prevention of Corruption, presented his resignation yesterday, based on disagreements with presidential decisions that he considers affect “institutionalism and non-negotiable principles”. Dr. Gustavo Montalvo, a PLD leader since the times of Juan Bosch, also resigned as National Coordinator of the …

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The National Competitiveness Council resolved to strengthen the national strategy and create a diagnosis to improve the business climate. According to Diario Libre, the strategy will also strengthen competitiveness of the productive sector, tackle the challenges of the commercial opening and execute Inter-American Development Bank (IDB) projects.

International performers scheduled for the 2005 Presidente Latin Music Festival are Julieta Venegas, Diego Torres, Marc Anthony, David Bisbal, Chayanne, Franco De Vita and Daddy Yankee whereas local performers include Negros, Frank Reyes, Eddy Herrera, Krisspy and a special combined performance by Sergio Vargas, Los Rosario, Los Toros Band and Rubby. El Caribe reports that …

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The Brazilian team erased the Dominican team’s dream of going to the 2006 World Basketball Championship after beating them 80-72. According to El Caribe, the DR will have to wait another four years to try to make it to a World Championship it has not participated in since 1978. In other results, Panama beat Puerto …

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President Leonel Fernandez will travel to New York in September to take part in the seminar on the National Report of Human Development in the Dominican Republic 2005, on the theme: “Towards an inclusive and renewed global insertion”. Clave Digital reports that the President will also travel to Washington, D.C., to participate in a meeting …

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The continuous increase in the price of petroleum combined with expectations generated in economic sectors by the debate about the inevitable tax reform have caused the US dollar to increase in price in the Dominican market after months of relative stability. Diario Libre reports that yesterday, the US dollar was being sold at an average …

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Finance Minister Vicente Bengoa, and the Japanese Ambassador in the DR, Haruo Okamoto, have signed an agreement whereby the interests on the Dominican debt are reduced, as reported in Diario Libre. The debt – 3.251 million yen (RD$837 million at the current exchange rate) – had been incurring interest rates of 8% and 4.2%, which …

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As part of the agreement the government signed with the World Bank (WB) to guarantee the financial feasibility of the energy distribution companies, two foreigners recommended by the multi-lateral organization have arrived and will be managing EdeSur’s distribution and marketing departments. El Caribe reports that Chilean Alejandro Paul Gonzalez and Peruvian Ricardo Jose Arrese are …

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The International Monetary Fund (IMF) mission that visited the DR from last 16 August to 27 August has reported that there has been no improvement in the electricity sector. IMF mission chief in the DR, Gue Meredit, said yesterday in Washington that although achievements within the program are still favorable, the DR had to request …

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The Association of Commercial Banks of the DR (ABA) has reacted with surprise at the inclusion of a tax on the interests on savings deposits applicable from 2009, which was included in the tax reform project. Clave Digital reports that according to the ABA, the tax, which is considered an advance towards the Income Tax, …

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