2013 – Page 293

The Central Bank reports no change in the Reference Interest Rate that continues at 5% yearly yield. The decision is based on the fact that inflation has remained within the target of 5% ? 1 percentage point in 2013 and is expected to keep within the range of 4.5% ? 1 percentage point in 2014, …

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Dominicans paid 21.2% more in taxes in 2012, a year when the government reported a RD$187 billion deficit and imposed a tax increase on citizens. Hoy reports that the Department of Taxes (DGII) collected RD$249.78 billion in 2012, which is RD$43.64 billion more compared to 2011. It says the sale of the Presidente beer brewery …

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The Economic and Social Council, the private sector consulting body to the government created in the 2010 Constitution, says that the past Fernandez administration accumulated a fiscal deficit of RD$401 billion from 2008 to 2012. The report states: “The concept of deficit is not synonymous with corruption, but there is no doubt that it cannot …

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The president and vice president of the Saudi Arabian postal service (Saudi Post) are on an official visit to the country for three days of meetings with the Dominican Postal Institute (Inposdom). An announcement of a major agreement is expected. Listin Diario reports that Muhammad Benten and Sami Aowedi of Saudi Post arrived from Brazil …

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After the government significantly increased its funding for public education, students have had to endure strikes by their teachers seeking their share of the increase. Professors at the UASD, who make by far much more than professors at the private universities, were assigned an additional RD$850 million in wages and benefits of their own RD$1.2 …

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One of the lawyers representing Barrick Pueblo Viejo, Eduardo Prats, in the Constitutional Court where the case is being heard, says the gold and silver mine contract does not allow for increases in taxation. However, other experts believe there may be loopholes that would permit this. Trajano Potentini of the Foundation for Justice and Transparency …

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Barrick Pueblo Viejo issued a statement on Wednesday evening, 27 February expressing its willingness to sit down for talks with the Dominican government on aspects of the contract passed by the National Congress. In the statement, the company expresses its belief that judicial security is fundamental for achieving the goal of generating benefits for the …

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Citizens have taken the government to court to provide information on the amount of gold and silver extracted by Barrick Pueblo Viejo since August. The citizens represent residents in the area of the Pueblo Viejo, Cotui mine. They have asked the First Hall of the Administrative Disputes Court to order the Ministry of Industry and …

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The Petroleum and Mining Chamber of the Dominican Republic (Camipe) is expressing concern that President Danilo Medina’s threat in his state of the nation address to impose taxation on Barrick Gold would have an adverse effect on mining in the Dominican Republic. Dozens of companies are waiting to finalize their mining contracts signed during the …

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The National Business Council (CONEP) is calling on President Danilo Medina to watch for the business climate and international image of the country. As reported in acento.com.do, Conep president Manuel Diez Cabral issued a statement calling for actions with a long-term vision, subject to the rule of the law and sustainable rules that promote national …

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