2009 – Page 295

President Leonel Fernandez visited the devastated area of Tamboril in the northcentral Cibao Valley yesterday and promised flood victims government aid for re-housing and to rebuild their homes. The region has experienced nine days of heavy rains. “Temporarily, because you can’t stay here indefinitely, as refugees, the government will pay for rented homes until there …

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Traffic has been restored on the Puerto Plata-Imbert highway, near the community of Los Cacaos. The road had been closed due to damages caused by the continued rains over the past two weeks. Traffic has also been reopened on the Luperon Touristic Highway between Santiago and Puerto Plata that had been closed on Wednesday due …

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Environment Minister Jaime David Fernandez Mirabal says that recent flooding and landslides in the Cibao Valley is proof that more trees need to be planted in order to contain erosion. He added that officials have to increase their awareness of the importance of forest cover. He also said that the Cordillera Septentrional mountain range is …

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The Central Bank’s Monetary Board has announced a set of new measures aimed at freeing up credit in the market and stimulating the economy. Central Bank (CB) Governor Hector Valdez Albizu announced the relaxing of commercial bank legal reserves up to RD$10.5 billion. Of the total, RD$7.3 billion will be made available for financing industry, …

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The DR’s GDP grew 5.3% in 2008 as a result of a 19.5% growth in communications, 13.7% in the financial sector, 55% in the commercial sector, 10.3% in the water and energy sector, as reported in Listin Diario. Agriculture was down 3.4%, free trade zones by 1.1%, construction by 1.2% and mining activities by 30%. …

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The president of the Association of Young Entrepreneurs (ANJE) Ricardo Bonetti is calling on the government to make its finances more transparent. Bonetti says that the government is behind in pushing the allocation of funds. He said that Hacienda Minister Vicente Bengoa has already commented that fiscal revenues for January fell below what had been …

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The Customs Department (DGA) has announced that it collected RD$3 billion in January 2009, a 30% drop from the DGA’s original estimates. Miguel Cocco, director of the DGA said that a reduction in the import of vehicles is to blame, considering that vehicle imports account for 26% of all DGA collections. He added that distributors …

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Farmers will harvest more than 300,000 quintals of onions this week, but many producers fear the crops will be lost because of a measure passed by the government. This concern was expressed by the Horma Horticultural Producers Association (ASOPROHORMA). Cesar Mendez and Wilson Suazo, president and secretary general of ASOPROHORMA, say the 300,000 quintals are …

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The Global Competitiveness Report 2008-2009 directed by Klaus Schwab of the World Economic Forum and Michael E. Porter of Harvard University has been released, and reads like an ice-cold shower for the Dominican Republic. In the Global Competitiveness Index Rankings, the DR is ranked 98th, with a 3.72 score. In Latin America it has only …

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The United States Agency for International Development has created the Fondo Destinos, making available RD$17.8 million for investment in sustainable development projects. The fund seeks to stimulate innovative products, improve visitor satisfaction and promote a good image for the country abroad. It can serve as an incubator for small and medium-sized tourism companies that guarantee …

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