2007News

Lotsa money for the Metro

The weekend news was devoted mostly to reports about budget items and the political maneuvering surrounding the party conventions. Listin Diario reported that the Santo Domingo Metro would receive RD$7.18 billion in loans (EUR163.4 million) from France, Spain and Germany. According to the paper, the money will go to the Siemens-Thales Consortium for the different …
2007News

Pensions for good friends

The last months of the PRD-led Congress approved nearly one thousand pension packages for former politicians, legislators, siblings of legislators and relatives. The pensions vary in size from RD$3,000 to RD$60,000 per month. According to Listin Diario, several former Senate and Congress employees were also blessed with generous pension plans, despite not having retired. While …
2007News

Cogentrix to natural gas

Speaking last Thursday, CDEEE administrator Radhames Segura announced the undoing of the 297-megawatt combined-cycle, oil-fired electric generating Cogentrix facility deal that was signed when he was in the same position with the CDE during Leonel Fernandez’s first presidential term (1996-2000). Basic Energy, which operates Punta Cana-Macao and Bayahibe power plants, has agreed to convert the …
2007News

Politicocracy

To end the year, Adriano Miguel Tejada of Diario Libre wrote about the “politicocracy” that prevails in the DR today. He writes on the predominance of politicians: “Any economic model that is based on a government as the engine of the economy and all national activities, can only lead to an endless series of fiscal …