Dominican Today -
Recent developments in Europe and North America, involving Barclays Bank and others in the manipulation of Libor rates, are truly shocking.
They bring into question not just the role of the banks concerned, but suggest that a once measured and conservative profession that people trusted, has in major financial centres become so self-seeking and lacking in morality that bankers at the highest levels are prepared to condone or order actions amounting to fraud on a global scale.
As this is being written the story is still unfolding.
In outline it is about falsifying the benchmark interest rate against which almost all global financial transactions take place. Libor –short for the daily London interbank offered rate - is the rate that establishes the costs to banks to borrow from each other and the figure against which almost all other rates are set for financial products and instruments ranging from swaps to complex derivatives, mortgages, personal savings and loans.
Around 20 major banks, in the US, Europe and Japan have received requests from their regulators to provide information on the setting of the Libor rate over a number of years, including at critical moments during the 2007-9 global banking crisis. The allegation is that these banks artificially lowered their Libor submissions to enhance their financial health.
Of these so far only Barclays has admitted that its traders and bankers did so and a fine of US$300m has been levied on it by UK and the US regulators.
But in an indication of quite how serious the consequent breakdown of trust is, the former British Chancellor of the Exchequer, Alistair Darling, has said that the Libor rate was one of the key indicators he used during the 2008 global banking crisis to assess the strength of banks, but that he now realised this was seriously flawed. “If you can’t trust banks on something as basic as this, what confidence can you have in them,” he told the London Financial Times.
Whether what is being revealed will result in legal actions against banks and individual bankers remains to be seen. However, the US Department of Justice is pursuing criminal and civil investigations and there is talk of class actions against the banks involved.
These are of course not just matters of concern to those who live in Europe or North America. In a global economy, banks operate across borders, Governments and institutions rely on them, and their role is as essential to the Caribbean’s financial systems as it is to the countries in which they are located.
For many who have lived or worked in the Anglophone Caribbean, the coupling of Barclays name with this scandal may seem unreal. Most remember Barclays Bank in the Caribbean, its network of offices and branches and the bank’s head office in London, as the repository of traditional values.
The bank of course gradually exited from the Caribbean. In 2001 after a 150 year presence, Barclays and CIBC announced that they were in discussions. This led to the combination of their retail, corporate and offshore operations in the region to create FirstCaribbean International Bank. Then in 2006 CIBC acquired Barclays’ stake, becoming the majority shareholder in FirstCaribbean
Although Barclays Caribbean ethos may now seem a little quaint, in many ways it has, together with the strong corporate culture of the Canadian banks in the region, resulted in the welcome if sometimes frustrating conservatism of Caribbean banking and its ability to remain more or less untouched by the crisis in the global banking system.
Notwithstanding, the regional financial system has been severely tested. Caricom Finance Ministers are still trying to work out how to respond on a regional basis to the multi-billion dollar failure in January 2009 of the Trinidad-based financial conglomerate, CLICO and its subsidiaries; and just three weeks ago a US judge sentenced Allen Stanford to 110 years in jail for his part in a US$7bn international fraud run out of Stanford International Bank Ltd in Antigua.
What has protected mainstream Caribbean banking is its limited integration with international financial markets. As a consequence it largely avoided exposure to the collapse of Lehman Brothers and others US financial institutions, did not buy mortgage backed securities, is not involved in high risk financial instruments like derivatives, has relatively low levels of overseas borrowings, has not confused wholesale and retail banking operations, and continues to have a clear commercial and social purpose.
Despite this there should be no room for complacency.
There remain worrying gaps in the ways in which financial institutions in the region are supervised and regulated. Economic and commercial linkages, common vulnerabilities, smallness and the danger of instability in the global financial system all suggest that there is pressing a need for a single set of rules supervised by a regional regulatory institution.
In an important speech in March that deserves much wider attention, Ewart Williams, the Governor of Trinidad’s Central Bank suggested a series of remedies. He argued for strengthened financial sector legislation that covers the banking system, insurance and the credit unions and a need to substantially upgrade and consolidate financial sector supervision. He also recommended all countries having national insurance schemes to cover deposits in banks to protect the less well off and for there to be national and regional crisis management plans. He made the point that financial sector legislation in the region is grossly deficient when compared to what obtains in advanced or emerging market countries and that there was a danger of regulatory arbitrage if legislation was not harmonised across the region.
Caricom Heads of government need to take more seriously the importance of what Governor Williams and other Central Bankers are saying, not least because of continuing global economic uncertainty. Unfortunately the absence of effective regional governance through Caricom may set aside or delay implementing many of these important, stabilising and common sense approaches.
What is now happening in North America and Europe suggests that avarice, the corrosive sense that big banks are above the law and will always be bailed out, and the continuing crisis in the Eurozone, could return to threaten the global economy . If unchecked there is a danger of social instability not least because these forces cast governments and social policies aside and leave ordinary people feeling helpless and marginalised. If there is another crisis, this time the Caribbean, now economically less robust, may not be immune.
David Jessop is the Director of the Caribbean Council and can be contacted at david. jessop@caribbean-council. org
Previous columns can be found at www. caribbean-council. org
Read original at Dominican Today.
(Posted 14:29 Friday by DRSol NewsHound. Viewed 2587 times.)
The Dominican Sun - Across the Dominican Republic in the last 24 hours the highest observed temperature by DRSol was 88 at Santiago. The coolest reading came from Las Americas with an overnight low of 70. A few spotty light to moderate showers and thunderstorms were reported, and rain is being observed right now as well at Punta Cana, Las Americas and La Isabella. Skies were generally partly cloudy. Winds are averaging 10 mph from the SE, with a peak gust to 23 mph seen at 2PM this afternoon at Samana. By the Numbers DR cities reported rain 8% of the time, and thunderstorms 3%. Average reported rainfall intensity on a scale of 0 to 100 was 40. Cloud cover totaled 49%. Click above to view summaries for the last week or last month. Last updated at 7:28PM. Read original at The Dominican Sun.
(Posted 23:29 Tuesday by DRSol NewsHound. Viewed 2281 times.)
Dominican Today -
Santo Domingo- The president of Dominican Republic’s federation of labor unions grouped in the CNUS on Tuesday said the business sector had “snubbed“ them when they were no-shows at the talks to negotiate a wage increase for the private sector.
Rafael -Pepe- Abreu said it’s pointless to hold the National Wage Committee meeting next Thursday if employers stick to their proposed hike of just 11 percent. “When the business leaders asked to recess the wage meeting they did so based on their pledge to hold an internal point-by-point meeting with us and we would then go to the National Wage Committee on Thursday. “
Today’s development is the second time labor and management have failed to strike an agreement to increase salaries, despite mediation by the National Wage Committee, which is scheduled to meet next Thursday.
Read original at Dominican Today.
(Posted 21:29 Tuesday by DRSol NewsHound. Viewed 3910 times.)
Dominican Today -
Santo Domingo. - Ecotourism as tourism’s new paradigm will be the focus of a conference hosted by the Environment Ministry and the Science Faculty of the Santo Domingo State University UASD.
Environment Ministry and South Korea ecotourism consultant Geraldo Yun will dictate the conference “Tourism Development and Lifestyle according to the paradigm of Ecotourism growth in the Dominican Republic, life styles and creating a better country to visit. “
Students and teachers from various careers will lean the perspective of green tourism development and the opportunity it offers to develop rural communities in and around protected areas.
The Environment Ministry Ecotourism Department’s conference aims to create awareness in future professionals on the best environment-friendly and sustainable practices.
Read original at Dominican Today.
(Posted 21:29 Tuesday by DRSol NewsHound. Viewed 3911 times.)
Dominican Today -
Santo Domingo- The consolidated portfolio of energy generators that the power company AES manages offer the most competitive electricity prices in the local market as well as the Central America and Caribbean region.
This was revealed by Marco De la Rosa, during breakfast the Energy Committee of the American Chamber of Commerce (AMCHAMDR), explaining that “AES sells a kilowatt hour of electricity 26% lower than Dominican Republic’s hydroelectrics, 40 % below the average of other technologies in Central America and the Caribbean, and less than half the average price of other contracts and the local spot market.
De La Rosa attributed this competitive advantage to factors such as the technologies used by AES Dominicana’s power plants and the types of fuel, such as natural gas and coal, coupled with an efficient administrative management taking advantage of economies of scale made possible by being part of a global company such as AES Corporation.
“We reaffirm AES’ long term commitment with the country to continue contributing to the development of the Dominican energy sector and improve the quality of life of the communities where we operate, in line with our corporate mission,“ noted De La Rosa during the activity.
In that aspect he affirmed that it’s very positive that the CDEEE has within its strategic plan to expand electricity production based on coal with the expansion of the Itabo III unit, utilizing the existing platform, which would add 300 megawatts to the National Interconnected Electric System (SENI), which “ will undoubtedly result in savings to the state coffers through a significant reduction in the electricity sector’s financial deficit which is covered with central government funds. “
He said the energy base’s continued diversification, reduced dependence on oil, with bolstered and expanded high voltage grids and refurbished power lines, installation of meters and continuously more efficient technical management and commercial sector distribution systems, are the main challenges facing the electric power sector in the short and medium term.
Read original at Dominican Today.
(Posted 20:59 Tuesday by DRSol NewsHound. Viewed 4137 times.)
Dominican Today -
Dajabon, Dominican Republic- The Environment Ministry, other government agencies and private organizations on Sunday began a cross-border reforestation program along the line that divides Dominican Republic and Haiti.
Environment minister Bautista Rojas said it’s an initiative that will strongly impact both countries, with increased the forest cover in areas that have been devastated in recent decades, especially the Haiti side of Hispaniola.
“In fact the initiative that started on Sunday in Dajabón will contribute not only with regard to the vegetation, but preserve water sources and, therefore, improve the lives of people on both sides of the border,“ Rojas said.
Read original at Dominican Today.
(Posted 16:59 Tuesday by DRSol NewsHound. Viewed 6343 times.)
Dominican Today -
Santo Domingo- Justice minister Francisco Dominguez’s statement published in the media that children of Haitians born in Dominican Republic are Dominican has drawn quick rebuke, staring with Senate president Reinaldo Pared, who via Twitter said “it’s not true that those born to mothers who aren’t legal residents are Dominicans. “
Central Electoral Board (JCE) president Roberto Rosario also rejected Dominguez’s statement, noting that he suspects they were manipulated.
Pared also believes that Dominguez wouldn’t have made such a statement. “I don’t think my friend Dominguez would misinterpret the constitutional provision on nationality. “
“The children born in the country of Haitian mothers are as Dominicans as they come,“ Dominguez was quoted as saying.
Prominent attorney Vinicio Castillo Seman also rebuked the statement, and criticized the official for staging a confrontation with the Immigration Agency.
Read original at Dominican Today.
(Posted 16:59 Tuesday by DRSol NewsHound. Viewed 6341 times.)
Dominican Today -
Baltimore, Maryland, US. – Joel Rosario, the leading jockey in the United States and the first Dominican ever to win the prestigious Kentucky Derby horse race two weeks ago, is favorite Saturday in the Preakness Horse race in Baltimore, Maryland.
The Santo Domingo born jockey will once again ride Orb unbeaten in his last Five starts in the second race that make ups horse racings Triple Cown.
The Triple Crown consists of three major horse races annually run during the months of may and june in the United States, The Kentucly Derby, The Preakness and the final race in New York, the Belmont Stakes.
Odds makers have 3 year Orb favorite Saturday. The last time one horse won all three races was 35 years ago.
Read original at Dominican Today.
(Posted 16:30 Tuesday by DRSol NewsHound. Viewed 6972 times.)
Santo Domingo. – Justice minister Francisco Dominguez Brito regretted yesterday that his initiative to fight against human traffickers and those who pay for sex, is minimized by some sectors.
Dominguez said his proposal can not be considered as simple, because it is a struggle aimed at fighting “major international trafficking rings for sexual purposes operating here illegally, and they also recruit minors. “
According to the also Attorney General, prostitution has long been practiced openly in much of the Dominican
Republic but the trafficking of people for the sex trade has become so widespread that the government
believes it must now impose controls on the industry.
“We are talking in many cases about young girls who are semi-enslaved,“ he pointed out and added that added thatthe government will workinprograms for prostitution preventionand social reintegration ofthese women.
Dominican Today -
Santo Domingo. – A Central Electoral Board (JCE) committee, led by its president Roberto Rosario, met with president Danilo Medina on Friday to discuss the agency’s financial woes, a concern that local media have reported in the last few days.
After the meeting, Rosario Marquez said the encounter was requested by the JCE last week, and “answered promptly by President Medina, who received him and talked a lot. “
In addition to the JCE president, the committee included Cesar F. Feliz, coordinator of the Electoral Board Budget Committee; financial director Diomedes Ogando; Secretary General Hilario Espiñeira, and Communications director, Felix Reyna.
Read original at Dominican Today.
(Posted 16:29 Tuesday by DRSol NewsHound. Viewed 6974 times.)
Dominican Today -
Pedernales, Dominican Republic- President Danilo Medina on Sunday affirmed that despite having shown an interest in developing the southwest region’s tourism, when the Bahia de las Aguilas land title conflict arose, “I didn’t see any one who have titles come to defend themselves. “
“You know that I gave a clear demonstration that I want to develop tourism in the region, but the boycott surged from some sectors of Dominican society with the problem of land titles and I didn’t see anyone of those title-holders coming to defend themselves,“ Medina said during a tour Pedernales, Bahoruco and Monseñor Noel provinces.
Speaking to hundreds of citizens who demand the development of their poverty-ravaged province, the chief executive also pledged RD$80. 0 million in funding for agriculture.
In nearby Neiba meanwhile, the head of state said new varieties of disease-resistant coffee varieties will be imported from Brazil, to help nursery cooperatives plant 1. 5 million seedlings.
Medina’s announcements came during a surprise visits with just a handful of officials, where he announced small-scale public works and vowed support for the national wine industry, headquartered in Neiba.
Read original at Dominican Today.
(Posted 16:29 Tuesday by DRSol NewsHound. Viewed 6969 times.)
.png){kind=small}
Dominican Today -
Recent developments in Europe and North America, involving Barclays Bank and others in the manipulation of Libor rates, are truly shocking.
They bring into question not just the role of the banks concerned, but suggest that a once measured and conservative profession that people trusted, has in major financial centres become so self-seeking and lacking in morality that bankers at the highest levels are prepared to condone or order actions amounting to fraud on a global scale.
As this is being written the story is still unfolding.
In outline it is about falsifying the benchmark interest rate against which almost all global financial transactions take place. Libor –short for the daily London interbank offered rate - is the rate that establishes the costs to banks to borrow from each other and the figure against which almost all other rates are set for financial products and instruments ranging from swaps to complex derivatives, mortgages, personal savings and loans.
Around 20 major banks, in the US, Europe and Japan have received requests from their regulators to provide information on the setting of the Libor rate over a number of years, including at critical moments during the 2007-9 global banking crisis. The allegation is that these banks artificially lowered their Libor submissions to enhance their financial health.
Of these so far only Barclays has admitted that its traders and bankers did so and a fine of US$300m has been levied on it by UK and the US regulators.
But in an indication of quite how serious the consequent breakdown of trust is, the former British Chancellor of the Exchequer, Alistair Darling, has said that the Libor rate was one of the key indicators he used during the 2008 global banking crisis to assess the strength of banks, but that he now realised this was seriously flawed. “If you can’t trust banks on something as basic as this, what confidence can you have in them,” he told the London Financial Times.
Whether what is being revealed will result in legal actions against banks and individual bankers remains to be seen. However, the US Department of Justice is pursuing criminal and civil investigations and there is talk of class actions against the banks involved.
These are of course not just matters of concern to those who live in Europe or North America. In a global economy, banks operate across borders, Governments and institutions rely on them, and their role is as essential to the Caribbean’s financial systems as it is to the countries in which they are located.
For many who have lived or worked in the Anglophone Caribbean, the coupling of Barclays name with this scandal may seem unreal. Most remember Barclays Bank in the Caribbean, its network of offices and branches and the bank’s head office in London, as the repository of traditional values.
The bank of course gradually exited from the Caribbean. In 2001 after a 150 year presence, Barclays and CIBC announced that they were in discussions. This led to the combination of their retail, corporate and offshore operations in the region to create FirstCaribbean International Bank. Then in 2006 CIBC acquired Barclays’ stake, becoming the majority shareholder in FirstCaribbean
Although Barclays Caribbean ethos may now seem a little quaint, in many ways it has, together with the strong corporate culture of the Canadian banks in the region, resulted in the welcome if sometimes frustrating conservatism of Caribbean banking and its ability to remain more or less untouched by the crisis in the global banking system.
Notwithstanding, the regional financial system has been severely tested. Caricom Finance Ministers are still trying to work out how to respond on a regional basis to the multi-billion dollar failure in January 2009 of the Trinidad-based financial conglomerate, CLICO and its subsidiaries; and just three weeks ago a US judge sentenced Allen Stanford to 110 years in jail for his part in a US$7bn international fraud run out of Stanford International Bank Ltd in Antigua.
What has protected mainstream Caribbean banking is its limited integration with international financial markets. As a consequence it largely avoided exposure to the collapse of Lehman Brothers and others US financial institutions, did not buy mortgage backed securities, is not involved in high risk financial instruments like derivatives, has relatively low levels of overseas borrowings, has not confused wholesale and retail banking operations, and continues to have a clear commercial and social purpose.
Despite this there should be no room for complacency.
There remain worrying gaps in the ways in which financial institutions in the region are supervised and regulated. Economic and commercial linkages, common vulnerabilities, smallness and the danger of instability in the global financial system all suggest that there is pressing a need for a single set of rules supervised by a regional regulatory institution.
In an important speech in March that deserves much wider attention, Ewart Williams, the Governor of Trinidad’s Central Bank suggested a series of remedies. He argued for strengthened financial sector legislation that covers the banking system, insurance and the credit unions and a need to substantially upgrade and consolidate financial sector supervision. He also recommended all countries having national insurance schemes to cover deposits in banks to protect the less well off and for there to be national and regional crisis management plans. He made the point that financial sector legislation in the region is grossly deficient when compared to what obtains in advanced or emerging market countries and that there was a danger of regulatory arbitrage if legislation was not harmonised across the region.
Caricom Heads of government need to take more seriously the importance of what Governor Williams and other Central Bankers are saying, not least because of continuing global economic uncertainty. Unfortunately the absence of effective regional governance through Caricom may set aside or delay implementing many of these important, stabilising and common sense approaches.
What is now happening in North America and Europe suggests that avarice, the corrosive sense that big banks are above the law and will always be bailed out, and the continuing crisis in the Eurozone, could return to threaten the global economy . If unchecked there is a danger of social instability not least because these forces cast governments and social policies aside and leave ordinary people feeling helpless and marginalised. If there is another crisis, this time the Caribbean, now economically less robust, may not be immune.
David Jessop is the Director of the Caribbean Council and can be contacted at david. jessop@caribbean-council. org
Previous columns can be found at 
The Dominican Sun - Across the Dominican Republic in the last 24 hours the highest observed temperature by DRSol was 88 at Santiago. The coolest reading came from Las Americas with an overnight low of 70. A few spotty light to moderate showers and thunderstorms were reported, and rain is being observed right now as well at Punta Cana, Las Americas and La Isabella. Skies were generally partly cloudy. Winds are averaging 10 mph from the SE, with a peak gust to 23 mph seen at 2PM this afternoon at Samana. By the Numbers DR cities reported rain 8% of the time, and thunderstorms 3%. Average reported rainfall intensity on a scale of 0 to 100 was 40. Cloud cover totaled 49%. Click above to view summaries for the last week or last month. 
Dominican Today -
Santo Domingo- The president of Dominican Republic’s federation of labor unions grouped in the CNUS on Tuesday said the business sector had “snubbed“ them when they were no-shows at the talks to negotiate a wage increase for the private sector.
Rafael -Pepe- Abreu said it’s pointless to hold the National Wage Committee meeting next Thursday if employers stick to their proposed hike of just 11 percent. “When the business leaders asked to recess the wage meeting they did so based on their pledge to hold an internal point-by-point meeting with us and we would then go to the National Wage Committee on Thursday. “
Today’s development is the second time labor and management have failed to strike an agreement to increase salaries, despite mediation by the National Wage Committee, which is scheduled to meet next Thursday.
Read original at 
Dominican Today -
Santo Domingo. - Ecotourism as tourism’s new paradigm will be the focus of a conference hosted by the Environment Ministry and the Science Faculty of the Santo Domingo State University UASD.
Environment Ministry and South Korea ecotourism consultant Geraldo Yun will dictate the conference “Tourism Development and Lifestyle according to the paradigm of Ecotourism growth in the Dominican Republic, life styles and creating a better country to visit. “
Students and teachers from various careers will lean the perspective of green tourism development and the opportunity it offers to develop rural communities in and around protected areas.
The Environment Ministry Ecotourism Department’s conference aims to create awareness in future professionals on the best environment-friendly and sustainable practices.
Read original at 
Dominican Today -
Santo Domingo- The consolidated portfolio of energy generators that the power company AES manages offer the most competitive electricity prices in the local market as well as the Central America and Caribbean region.
This was revealed by Marco De la Rosa, during breakfast the Energy Committee of the American Chamber of Commerce (AMCHAMDR), explaining that “AES sells a kilowatt hour of electricity 26% lower than Dominican Republic’s hydroelectrics, 40 % below the average of other technologies in Central America and the Caribbean, and less than half the average price of other contracts and the local spot market.
De La Rosa attributed this competitive advantage to factors such as the technologies used by AES Dominicana’s power plants and the types of fuel, such as natural gas and coal, coupled with an efficient administrative management taking advantage of economies of scale made possible by being part of a global company such as AES Corporation.
“We reaffirm AES’ long term commitment with the country to continue contributing to the development of the Dominican energy sector and improve the quality of life of the communities where we operate, in line with our corporate mission,“ noted De La Rosa during the activity.
In that aspect he affirmed that it’s very positive that the CDEEE has within its strategic plan to expand electricity production based on coal with the expansion of the Itabo III unit, utilizing the existing platform, which would add 300 megawatts to the National Interconnected Electric System (SENI), which “ will undoubtedly result in savings to the state coffers through a significant reduction in the electricity sector’s financial deficit which is covered with central government funds. “
He said the energy base’s continued diversification, reduced dependence on oil, with bolstered and expanded high voltage grids and refurbished power lines, installation of meters and continuously more efficient technical management and commercial sector distribution systems, are the main challenges facing the electric power sector in the short and medium term.
Read original at 
Dominican Today -
Dajabon, Dominican Republic- The Environment Ministry, other government agencies and private organizations on Sunday began a cross-border reforestation program along the line that divides Dominican Republic and Haiti.
Environment minister Bautista Rojas said it’s an initiative that will strongly impact both countries, with increased the forest cover in areas that have been devastated in recent decades, especially the Haiti side of Hispaniola.
“In fact the initiative that started on Sunday in Dajabón will contribute not only with regard to the vegetation, but preserve water sources and, therefore, improve the lives of people on both sides of the border,“ Rojas said.
Read original at 
Dominican Today -
Santo Domingo- Justice minister Francisco Dominguez’s statement published in the media that children of Haitians born in Dominican Republic are Dominican has drawn quick rebuke, staring with Senate president Reinaldo Pared, who via Twitter said “it’s not true that those born to mothers who aren’t legal residents are Dominicans. “
Central Electoral Board (JCE) president Roberto Rosario also rejected Dominguez’s statement, noting that he suspects they were manipulated.
Pared also believes that Dominguez wouldn’t have made such a statement. “I don’t think my friend Dominguez would misinterpret the constitutional provision on nationality. “
“The children born in the country of Haitian mothers are as Dominicans as they come,“ Dominguez was quoted as saying.
Prominent attorney Vinicio Castillo Seman also rebuked the statement, and criticized the official for staging a confrontation with the Immigration Agency.
Read original at 
Dominican Today -
Baltimore, Maryland, US. – Joel Rosario, the leading jockey in the United States and the first Dominican ever to win the prestigious Kentucky Derby horse race two weeks ago, is favorite Saturday in the Preakness Horse race in Baltimore, Maryland. 
Dominican Today -
Dominican Today -
Santo Domingo. – A Central Electoral Board (JCE) committee, led by its president Roberto Rosario, met with president Danilo Medina on Friday to discuss the agency’s financial woes, a concern that local media have reported in the last few days.
After the meeting, Rosario Marquez said the encounter was requested by the JCE last week, and “answered promptly by President Medina, who received him and talked a lot. “
In addition to the JCE president, the committee included Cesar F. Feliz, coordinator of the Electoral Board Budget Committee; financial director Diomedes Ogando; Secretary General Hilario Espiñeira, and Communications director, Felix Reyna.
Read original at 
Dominican Today -
Pedernales, Dominican Republic- President Danilo Medina on Sunday affirmed that despite having shown an interest in developing the southwest region’s tourism, when the Bahia de las Aguilas land title conflict arose, “I didn’t see any one who have titles come to defend themselves. “
“You know that I gave a clear demonstration that I want to develop tourism in the region, but the boycott surged from some sectors of Dominican society with the problem of land titles and I didn’t see anyone of those title-holders coming to defend themselves,“ Medina said during a tour Pedernales, Bahoruco and Monseñor Noel provinces.
Speaking to hundreds of citizens who demand the development of their poverty-ravaged province, the chief executive also pledged RD$80. 0 million in funding for agriculture.
In nearby Neiba meanwhile, the head of state said new varieties of disease-resistant coffee varieties will be imported from Brazil, to help nursery cooperatives plant 1. 5 million seedlings.
Medina’s announcements came during a surprise visits with just a handful of officials, where he announced small-scale public works and vowed support for the national wine industry, headquartered in Neiba.
Read original at 