| The Dominican Sun |
| "Daily Dominican Republic News in English Since 2004" |
| Tuesday, March 6th, 2012 |
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Adding Central Bank debt to get real public debt
Story Text & Photos © 2012 by DR1 Mar 6 2012 11:59AM
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DR1 - Economist Miguel Ceara Hatton is calling for the government to quantify the public debt adding that of the Central Bank, following recommendations from the International Monetary Fund (IMF). As reported in Hoy, Ceara Hatton said: "If the government does that, the ratio of debt-GDP will go from 29% to 40. 3%. He said to the government debt of US$17 billion (about 29% of GDP), one has to add the US$6. 2 billion of the Central Bank, which brings the total government debt to almost US$23 billion. Ceara Hatton said that the public debt statistics published by the Ministry of Hacienda include foreign and internal debt, but exclude the Central Bank debt. As reported in Hoy, Jose Lois Malkun, governor of the Central Bank during the Hipolito Mejia presidency and the 2003 banking crisis, said that in 2004, when the government changed from Mejia to Fernandez, the public debt was around US$9. 7 billion.
Earlier last week, Ceara Hatton argued that the Fernandez government was leaving the new government a time bomb. He said the administration would have to disburse 5% of GDP in 2013 and 5. 6% of GDP in 2014. He said that the public debt, excluding that of the Central Bank, has been growing fast since 2008. He said that 68% of the US$13. 3 billion of new debt taken on from 2000 to 2011 was taken on from 2008 to 2011.
Read original at DR1.
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Alleged killer victim’s daughter found on Web extradited to NYC
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 21:29PM
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 Dominican Today -
New York- Dominican Justo de los Santos shot compatriot Jose Martinez twice in the chest killing him on November 22, 1986 , and was arrested in Miami after the victim’s daughter searched for him since 2006. He was extradited to New York on Friday.
The suspect, 43, who was 16 when he killed Martinez 26 years ago, was working as in Florida where he settled after fleeing Upper Manhattan to Dominican Republic in 1986.
The actress Josselyn Martinez, the victim’s daughter, was nine and lived in the The Bronx when her father was killed. Finally found the alleged murderer last week after intensive searches on several websites specializing in locating people.
Lauded by NYC Police commissioner Raymond Kelly, Martinez got Santos’ address and phone number, leading to his arrest by Miami police two weeks ago in and escorted Friday by detectives to Upper Manhattan’s 34th Precinct for booking on the murder occurred in the mostly Dominican neighborhood of Washington Heights.
De los Santos allegedly killed Martinez when the victim accused him of “acting fresh“ with his wife in the restaurant “Dominican Express“ on Dyckman Av. owned by the couple.
In the enduing the argument suspect pulled a gun and allegedly killed Martinez in front of his wife Idalia and other witnesses.
Read original at Dominican Today.
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Jarabacoa’s real estate tourism soars to US$90. 0M yearly
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 21:29PM
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 Dominican Today -
JARABACOA, Dominican Republic- In this town pulsating at the very heart of the Central Mountains, real estate tourism surged a decade ago, moving around US$90. 0 million per year, on land transactions and the construction of villas, hotels and apartments.
So what attracts investors? It’s the natural diversity of the area 530 meters above sea level, mild temperatures and an environment ideal for retirement: lush trees, rivers, waterfalls , rugged mountains and friendly residents.
Many residents say rest and relaxation, eco and even religious tourism have widened as more projects develop to meet demand.
“Everyone wants to come to Jarabacoa. Before the problem was that we didn’t have enough beds, today, with the construction of several projects, we’ve gotten people to buy their house and have it as a second home,“ said Anna Fernandez, of the Jarabacoa realtors grouped in the AEIJ, quoted by hoy. com. do.
Real estate development has unleashed a cascading effect on other sectors, Fernandez said, noting that “banks are bullish on Jarabacoa and we’re seeing that all sectors want to have a presence here. If you want to invest it’s because they’re seeing growth and the ambience in an organized manner. “
Read original at Dominican Today.
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Miami to have its own “Little Santo Domingo” before year end, EFE
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 21:29PM
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 Dominican Today -
MIAMI. – Adding to Miami neighborhoods such as “Little Havana“ or “Little Haiti“ that already draw tourists to southern Florida’s multicultural city, will be its own “Little Santo Domingo” before year end,“ EFE reports.
“Right now I’m working on a concept to create a “Little Santo Domingo” in District 1 of Miami,“ the commissioner Wifredo Gort revealed Monday, who’s pushing the initiative aimed re-launching the neighborhood of Allapattah.
Gort, 72, who held the post of Miami mayor in 1996 for two months, when his predecessor died, on his website said he’s confident the initiative will have “the same success I accomplished for Little Havana. “
Banking on the success he calls “a major tourist attraction,” Gort’s idea to promote Allapattah gathers steam it’s already unofficially called “Little Santo Domingo,“ a name he affirms will be a magnet for modern artists and powerful investors in properties and businesses.
Of humble beginnings, Allapattah -“alligator“ in Seminole tongue- today boasts a large melting pot of Caribbeans and Latin Americans, with 75% Latino and 20% Black.
Many Dominicans call Allapattah home, most of which arrived there from other areas of the U. S.
Read original at Dominican Today.
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US-Puerto Rico agents arrest 3 Dominicans with 688Ks cocaine
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 20:29PM
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 Dominican Today -
SAN JUAN- Three Dominicans trying to smuggle 688 kilos of cocaine into Puerto Rico were arrested by authorities, U. S. Federal Attorney in San Juan, Rosa Emilia Rodriguez announced Tuesday, EFE reports.
She said René Peña Almonte, Jose Antonio Toribio and Raul Rodriguez Pascual were intercepted Tuesday aboard a speedboat 195 miles south of Ponce, and the drug seized is valued at US$24 million.
In a press conference at U. S. Coast Guard headquarters in San Juan, the official said that when the Coast Guard found the boat detainees began throwing some of the 20 bales of sea drugs were confiscated later. “We’ve just struck a hard blow to drug trafficking. The important thing is that we didn’t allow the drug to reach its final destination, the United States. “
For his part, Immigration and Customs Enforcement director Angel Melendez stressed the cooperation between U. S. authorities in Puerto Rico and local agencies to fight drug trafficking.
He said drug smugglers lately follow a route from Colombia and Venezuela passes to the area south of Puerto Rico. “We see a trend of transporting narcotics from South America in large quantities. “
Read original at Dominican Today.
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Credit card rates will fall in 2 months: Banks chief
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 18:59PM
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 Dominican Today -
Santo Domingo- The Superintendent of Banks on Tuesday said the interest paid by cardholders will be lower in two months, as the mechanism it assumed to “operationalize“ their fall will take effect in that period.
Rafael Camilo said the Superintendence has been demanding that financial intermediates charge interest on the loans’ unpaid balance.
After the Monetary Board credit issued a credit card regulation, the official announced that the Banks Superintendence repealed the operation mechanisms for those regulations and that the instructions are available. He said instructions tend to lower the amount of interest.
As to interest rates announced by the banks with funding from the RD$20. 0 billion released from the Central Bank’s reserve requirements, Camilo said that entity has been reporting that only RD$5. 3 billion have been placed in the last two weeks, and that not all banks have the same among of money available.
He said the reserve released is part of the deposit by banks in the Central Bank, when they capture the money and the big banks have the most because they’re the ones which capture more from the public, such as the Reservas bank, but the small ones capture less and that might be why it depletes faster.
Camilo added that it’s not true that the RD$20. 0 billion available for new loans at a maximum of 9% will drag down the rate of the old loans.
Read original at Dominican Today.
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Medina breaks ground for Santo Domingo Beltway
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 16:30PM
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 Dominican Today -
Santo Domingo- President Danilo Medina on Tuesday headed groundbreaking for the construction of the Santo Domingo Beltway, whose first phase will cost more than US$97. 0 million.
The chief executive was accompanied by Public Works minister Gonzalo Castillo in the activity to start the work on the four-lane highway that will link the port at Boca Chica with the two at Haina.
The first phase will link the ports at Haina with the Duarte Highway, and the second stage, slated to start in 2016, will complete the bypass by linking Boca Chica.
“This roadway will connect two major port areas and the five major roads that serve Santo Domingo, while taking heavy traffic out of the capital,” Castillo said in the ceremony held Tuesday morning.
Read original at Dominican Today.
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Government signs US$80. 2M loan to fix East Region’s roads
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 16:29PM
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 Dominican Today -
Santo Domingo- The Central American Economic Integration Bank (BCIE) loaned US$80. 2 million to Dominican Government to finance a project to improve and expand the Eastern Corridor’s roadways.
Finance minister Simon Lizardo and BCIE CEO Nick Rischbieth on Friday signed the agreement which partially funds the construction sections of the San Pedro- La Romana highway and the San Pedro Beltway, totaling 34. 0 kilometers.
In a statement, the Finance Ministry said the funs will also be used to build the La Romana Beltway, a new span of 14. 0 km, and the Tourist Boulevard of the East, of ??30. 0 kilometers.
Read original at Dominican Today.
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Public Health to strengthen measures against H1N1
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 16:29PM
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 Dominican Today -
Santo Domingo. – Public Health minister Freddy Hidalgo will reveal on Monday the new measures against the H1N1 flu, after meeting with the National Epidemiological Surveillance Committee. He said health authorities will analyze the epidemiological situation, including dengue and other diseases. Hidalgo reminded that 200,000 doses of H1N1 flu vaccine will arrive in the
country in less than two weeks to deal with the virus.
Read original at Dominican Today.
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Three Dominican women missing in Lebanon
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 16:29PM
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 Dominican Today -
Santo Domingo. – The Foreign Ministry is making efforts to locate three Dominican women whose relatives reported they are in Lebanon but have not heard from them in a month. The three women are Carmen J. Custodio Tejada, Awilda Felicita Tejada Cabral and Ana Mieses.
According to their relatives, the three women went to Lebanon with an employment contract for three months. Two of them had previously traveled abroad for the same purposes.
Read original at Dominican Today.
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Agents nab “highly dangerous” Iranian wanted in France
Story Text & Photos © 2013 by Dominican Today Jun 18 2013 16:29PM
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 Dominican Today -
Santo Domingo- Iranian national Larki Ashtari, wanted in France on burglaries, grand theft and kidnappings was arrested in the city Wednesday, by National Investigation Department (DNI) agents.
The DNI called Ashtari a highly dangerous criminal who entered Dominican Republic from Paris, via Punta Cana Airport on July 21, 2012, returning to that nation on September 15 of that year.
It said the foreigner entered Dominican territory again January 24, 2013, despite being barred from leaving France on pending cases.
The DNI Ashtari, arrested on the corner of Churchill and Contreras avenues, fled France after agents who raided his residence found credit cards and materials to forge them, adding that he had constantly changed his appearance.
Read original at Dominican Today.
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