2011 – Page 230

The International Monetary Fund (IMF) mission that visited February 1-14 to conduct discussions under the fifth review of the Stand-By Arrangement with the Dominican Republic has issued a statement saying that the program “continues to yield positive results.” The statement calls for the government to increase taxation revenues and reduce electricity sector subsidies. The mission, …

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Writing in today’s Hoy newspaper, former Central Bank governor Bernardo Vega criticizes the quality of indebtedness taken on by the governments. He refers to a recent publication in a magazine published by President Leonel Fernandez’s think tank, Funglode on the subject that emphasizes the marked increase in public debt. In 2000, the domestic public debt …

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The Dominican Republic’s economic growth has not trickled down to the income the cities should be receiving from the government. According to Law 163-03, the country’s municipalities should receive 10% of the government’s tax revenues. According to the head of the Dominican Federation of Municipalities, Victor Jose D’Aza, this provision has not been observed or …

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Today’s Diario Libre editorial makes the point that while the hotel associations have led the fight against a new tax announced by the National District Municipality (ADN), the effects of the new taxes will be felt by all homeowners who should join the protest. The editorial states that owners of properties in the city will …

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The Autonomous University of Santo Domingo (UASD), the state university, will elect a new rector in a second round of voting, according to preliminary data disclosed by representatives of the main candidates yesterday. Diario Libre says that Mateo Aquino Febrillet was at the top of the count and obtained 46% of the votes, while Ivan …

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Despite urgings from the Dominican Lawyers Association, legislation to establish an Organic Law that covers the Constitutional Court is still stuck in the Chamber of Deputies. In the face of a lack of a consensus, the deputies left the discussions on the legislative proposal that creates the Organic Law of the Constitutional Court for today. …

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In a new move, the Central Electoral Board (JCE) will now select the members of the local electoral boards, choosing the candidates carefully, whereas before the local board members were generally well known citizens of good standing. The JCE announced the beginning of the selection process for all members of the country’s local election boards. …

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The Dominican Republic Industrial Association (AIRD) and the Young Entrepreneurs Association (ANJE) have expressed concern about the possible fallout from a legislative proposal submitted by Senator Sanchez Roa. The legislation would provide very attractive incentives for industries that establish their operations in the border provinces. This proposal is not unlike Law 28-01 that was mutilated …

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AES Dominicana president Marco de la Rosa has told reporters that the “guiding principle” for investment in the energy sector should to lower costs in the primary sector-generation. He said that this would require putting faith on coal and natural gas as key energy sources. However, he added that once the system was fully based …

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The head of the Conatra transport union suggested yesterday that the government expand the use of natural gas for public transport and substitute the use of gasoline. Antonio Marte pointed out that a gallon of natural gas costs RD$44 and a gallon of gasoline costs RD$150 on average. He said that the first savings for …

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