2008 – Page 248

President Leonel Fernandez says that the two biggest challenges facing the DR are issues with governance and globalization. Fernandez, speaking at an encounter with newspaper Hoy, commented on the need for a profound transformation of the state because power is no longer concentrated in one place. He said governance requires the participation of all players, …

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PRD presidential candidate, Miguel Vargas defended yesterday his proposal to cut the income tax from 25% to 15%, as reported in the Listin Diario. He said that this would reduce the cost of doing business, and the cost of goods and services. Vargas said that President Leonel Fernandez is trapped in the antiquated and inefficient …

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The Juan Bosch Bridge, one of the newest in the country, will be getting a RD$5 million makeover. The Costa Rican company, Estructura Metalicas (ESTRUMET) has been entrusted with the repairs. Mayobanex Escoto, deputy minister for bridges and roads at the Ministry of Public Works, said that Estrumet is already responsible for maintenance on the …

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Haivanjoe Ng Cortinas, Superintendent of Securities, expects the effects of a recession in the US to be minimal in the DR economy. At a presentation at INTEC university, he commented on the linkages between Gross Domestic Product, remittances, foreign investment, GNP, free trade zone exports and national exports. He said that the travel sector has …

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Agriculture Minister Salvador “Chio” Jimenez says the DR will not be affected by international food shortages. He emphasized the DR, despite the switch from agriculture to services, still is a major farm producer. Jimenez said that the difference between the DR and other countries is that the many other countries “have money, but they don’t …

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Industry & Commerce Minister Melanio Paredes said the government would apply penalties under Consumer Defense Law 358-05 and Competitiveness Defense Law 42-08 to those found speculating with prices. Paredes rejected that the move is merely political chess, now that the election is only one month away.

As gasoline prices have surged to new highs, consumers have migrated to propane gas, which costs less than half the price of a gallon of gas, as reported in the Listin Diario. As a result, the consumption of GLP has skyrocketed. The DR consumed 33.9 million gallons in January and 32.5 million gallons in February. …

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The Senate is studying the approval of nine international loans that would increase foreign public debt to the tune of US$309.7 million. The loans include: US$93.7 million to purchase 8 Super Tucano jet planes from Brazil. US$80 million for the construction of a set of libraries and the new National Archives. US$60.9 million to finance …

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To date, the Inter American Development Bank (IDB) has lent the DR US$2.85 billion. The amount does not include funds allocated for private sector-oriented social programs. Listin Diario reports that US$75 million of the total entered as donations, US$3.1 million were investments and US$144 million were loans.

The Dominican government urges actions be taken to quickly reassemble the government in Haiti. Foreign Relations Minister Carlos Morales Troncoso said that in recent years the DR has become Haiti’s main defender in international forums. He added that there is no other country in the world more interested in Haiti’s social, democratic and cultural stability. …

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