LF: Hugo, need any copper? I got a special this week.


Leading Dominican exports for the Jan-Sept 2009 period were blood transfusion equipment US$334.58 million, cotton textiles US$188.25 million, handmade cigars US$175.23 million, disposable medical products US$98.38 million and raw sugar cane US$91.39 million. The DR also exported US$37.51 million worth of copper. Copper exports are highly controversial because a large portion is known to be stolen wiring.

The dirty little secret about our "sound economic performance" is out:


The DR's foreign debt increased from US$6.58 billion at 31 December 2004 to 30 November 2009 US$12.22 billion, after 6 years of the Fernandez administration. Diario Libre reports that according to the Ministry of Hacienda, the foreign debt increased from US$5.54 billion to US$7.53 billion during this period. Domestic debt increased from US$1.04 billion in 2004 to US$4.69 billion.

The dirty little secret about our "sound economic performance" is out:


The DR's foreign debt increased from US$6.58 billion at 31 December 2004 to 30 November 2009 US$12.22 billion, after 6 years of the Fernandez administration. Diario Libre reports that according to the Ministry of Hacienda, the foreign debt increased from US$5.54 billion to US$7.53 billion during this period. Domestic debt increased from US$1.04 billion in 2004 to US$4.69 billion.

Juan,

Dominicans stealing copper wire is akin to Hitians cutting down their forest to make carbon, but not quite as bad and far-reaching. Sort of cutting your nose with full knowledge that you would ruin your face, so to speak.

In either case, the immediacy of pursuing self-serving needs, combined with an indiferent gov't, shall contribute to long-term pain and suffering, stymied development and general populace dissatisfaction.

I'd would predict increased emmigration to PR and US, for we cannot exactly move east.

MJEV.

Caption: My dear friend HUGO, does political asylum come with the deal ?

We are cutting trees in the east like no ones business. Anyway we have more drop zones now.

Loans are for the other to pay. Remember tomorrow does not exist

Oh look Frick and Frack

Strike

juanb of course the foreign debt has increased because at last we are raising money to build the much needed infrastructure ,,or do you want us to stay as a third world country for ever. The was an earlier story about the increase of exports from legitimate copper mining which was about at the same level as mentioned in this article and although some copper is stolen ,it is not a major part of the copper exports. Not too sure were you got your figures but sugar is much more .

Ricedolito, preach that rationality my brother preach it!! with the spirit of logic!! : D

Ricardo,

You deserve title of external optimist.

You are a good Dominican, with great love for your country and that is admirable indeed.

Technical training makes me a realist rather than an idealist or optimist, and to me it clearly doesn't matter much whether the proverbial bottle is half empty or half full, and I only consider its volume and mass and intrinsic value.

You are trying exceedingly hard to bring some levity and reason and western values to the forum, and that is great; however, present administration has manifested deep-rooted corruption and ineptness, not to mention lack of accountability. Also, forget due process and enforcement of the law. In a way, DR is like LF's personal "finca". He does as he pleases and decrees as he and his many cronies see fit.

I must respectfully disagree on your statement about DR ever emerging from 3rd world status-it will never happen in my lifetime or yours.

Still, you get an A+ for unwavering optimism.

MJEV.

mr. leonel sign the free trade agreement with all south america country and also proposed a monetary union with south america union together with central america and all caribbean islands.mr leonel good sales.

glomarE ..one day if you come to the east of the country you will see the enormous progress here and you will see how all the towns are very active and the new businesses and the new highways ,,I have often wondered how it is that I see this country so more positively than others and , leaving aside the comments that are just plain anti leonel or DR without reference to the article, I think that it is because this part of the country in the east and in the Samana peninsula is going much better economically than the rest .
It appears from comparisons made on this site that I pay much more to my employees than they would receive in the north and I believe the job opportunities are greater here also ..Here in the east we are certainly not third world now .
As for the power wielded by the President here with his political friends ..I agree that the system has insufficient checks and balances and not nearly enough transparency ..but that will not change no matter who rules .

The important thing is that we now have the funds in the country to do things ,,for a change ..and whether you like Leonel or not ,you must admit that we have weathered the economic bad times better than most . Tragedy that at the same time some people grow richer by improper means ,,but I would prefer this rather than see the country stagnate as it would under policies from juanb, josean and others.

Ricardo,

I know about La Romana, since various family members are prominent residents of that locality.

Country world ranking, 3rd versus 1st, is as complicated as GNP. In spite of all the riches in eastern DR, all things considered, we are far from even attaining 2nd world status.

Yes, La Romana and Punta Cana are rich enclaves but so is Dubai and none is even close to 1st world status. Heck, I even doubt that countries such as Italy and Greece qualify for 1st world status.

MJEV.

Maybe you are right but i would not trade my life here for any so called first world status ,,the thought of even visiting the USA fills me with gloom .

I could see it know........HUGO-A-GO-GO DANCING IN THE STREETS.

Uhmmm, all the planes that bring drugs to the DR comes from Venesuela, !!!!!!!

Perception ,,you have a very poor name if you think that is correct and if the RD patrols are looking to Venezuela then that is the reason they are missing all the drops from Colombia

Perception ,,you have a very poor name if you think that is correct and if the RD patrols are looking to Venezuela then that is the reason they are missing all the drops from Colombia

0000

?

Ricardolito,
Wake-up and smell the Venezuelan Government COFFEE.

is better than columbian coffee ??

Stand back.
Crude is on the way up again so Hugo will get even crazier.....



Doesn't anybody else think that $131.5 is kind of high for 49%

Ricardolito,
Maybe in your mind.....but many will agree not better then the Dominican coffee.

AnthonyC,
Thanks for that aroma smell back to reality.

Ricardo,

You should visit Finger Lakes region of New York some time....it is indeed one of the most beautiful places on earth!

We have everything here:

1) Large wine industry.
2) Some of the largest worldwide supply of fresh water.
3) A semi-honest gov't; however, we are quick to prosecute and punish corrupt ones.
4) We got mountains and valleys; ski resorts; nature conservatories; aviation museums; corning glass; Niagara Falls; Indian reservations and casinos; affordable housing; excellent schools; some of the best universities in the world; excellent medical care; the quaint Erie canal; Top 5 issued patents; good theater and arts; highly intellectual community; good income; hotbed for alternative energy; leadership in fuel cell development; etc; etc.

A great area indeed; that is why I call it a "fresh water paradise"! I've been privileged to travel the world; however, I am glad I call this place home and am always happy to come home.

You should see it!

MJEV.

Doesnt Leonel Fernandez realize what he is doing by selling almost half of the only refinery to Chavez whos only goal is to conquer the americas and expand his socialist views. Venezuela is one of the top producers of crude oil in the world yet they just anounce cuts in hours of operations in public places suce as malls and theaters to safe energy .

Does anyone in the the DR government think of this as odd?

Oh well... Dont complaint later.

Rainman..yes there were many people who thought this sale was odd and it has been reported many times that the payment will not be in cash but in the non payment of oil from Venezuela to the DR .. On the other hand many writers here have said that the refinery is a shambles and that Venezuela made a poor investment ..The star of Chauvez appears to be getting dimmer as his former friends take less notice of him and his own country starts to fall apart .

dominican republic is in a better econimic condition then it was in the past, still dont understand why they wanna make deals with this jackass hugo, the guy is a snake in the grass I would not trust him if anything goes wrong and I mean anything the guy would go crazy, and announced and invasion on the dominican republic that can happen , at the end of the day the united states does make oil deal with iran so i guess stranger things have happen

Dr. Strangelove,

So Matrha is Dominican this week?

"You are a good Dominican, with great love for your country and that is admirable indeed."

I am confused because there have been claims, of being a non- Dominican resident alien (emphasis on ALIEN) and of having ancestry that allegedly perished in the NAZI concentration camps!

Hellborn25,

Well put.....that's why I call him Hugo-a-go-go, goes here goes there, always trying to brush-up on his fake outer imagine as a great leader.

As you know Leonel has always wanted the DR to have a seat on the UN security council and I think he was just playing Chauvez along ..also remember that Venezuela has donated many many homes here after natural disasters so it is good not to look the gift horse in the mouth

So much better to go to the pump and realize that not only are some of the the profits going to the the socialsist governmnt of Venezueala but its helping DR as well.
At one time BP was 50 percent owned by the British People and proftis flowed back into important social projects. There was huge customer loyalty and this was destroyd by the evil Thatcher selling the important national asset.
So this is great news and it is good that the governments of Venez and DR see that it is vital to keep such assets under state control.
S.

Abc123-200,

Excussss-me.........helping the DR as well who, what and where and in what way ?

Profits flowed back to IMPORTANT SOCIAL PROJECTS, if so important then why stop them ? somebody help me here........what social projects ?

The People of the DR or the DR Gov. ?

"vital to keep such assets under state control" at least you got the CONTROL part right, are you kiddin me !

Let me see....You didn't trust the evil Thatcher but it's safe to assume you now trust LF and Hugo-a-go-go what gives ?

Am I to assume that's the reason you never stated what part of the United Wild Kingdom you live in !

Or I can tell you never LIVED in the DR and or your tea spiked ?

FOLKS ! I'm lost here.......... I was born in the DR but I never lived in the DR so somebody enlighten me with some facts.

Riosm,

You engage "Mucho Loco" at your own risk. Nothing this individual states ever makes much sense. He is an absolute leech, mooching off the British gov't in the tenements and has for years.

When the history of the world gets properly chronicled in the years to come, I expect to see the following people as some of the best and most prominent leaders:

1) Winston Churchill
2) FDR
3) Mohandas Gandhi
4) Indira Gandhi
5) Golda Meir
6) Lady Margaret Thatcher
7) Ronald Reagan
8) Mao Zedong
9) Fidel Castro
10) Mikhail Gorbachev

The order might not be correct and no attempt was made at precedence.

When Mucho Loco badmouths a notable such as Lady Thatcher, his respect stock goes into further deficit and my ire is incited.

MJEV.

Wise Josean,

I have no such knowledge of Ricky's background.

My comments were strictly based on his comments and the good work he purports to carry in La Romana.

Even if he were a resident alien, I would still commend him highly if his community work is indeed as he has indicated in previous postings.

While many of us are fortunate to to be Dominican by birthright, I have great appreciation and respect for anyone who becomes Dominican by choice. Former has no choice in matter; latter does it out of love and devotion-I hope! And that really means a lot to me, and I would expect to you and everyone else as well.

MJEV.

Glomarexplorer,

As always you are a fare Man, and speak from truth, you are much respected by myself and I'm sure by many who post.

Take care.

hey : glomarexplorer I Think you should take out ronald reagan and fidel castro of that list.

Dominicans for your own sake shoulnt have let Hugo Chavez buy into the refinery period. You will regret the decission.

RainMan,
SO SO TRUE.....

Riosm,

Thank you for your kind comments.

You are a great asset to this forum, and we need more people like you and various others who contribute materially and positively to the evolution of stories presented.

My wish for the new year is that somehow the intellectual depth of discussion will increase materially and, while realizing that our beloved country faces many challenges [not the least of which being corruption], that we will focus on understanding and solutions and seek ways of bringing about change.

While recognizing Haitian situation and how it is intertwined with DR, I would further wish for less hatred on both sides. Instead, we should concentrate on finding viable solutions to this problem and maybe help our neighbors re-build their economy and country. This could be win/win situation.

I would further wish for controlled immigration and balance and enforcement of existing laws-at all levels. No exceptions!

MJEV.

Glomarexplorer,
Thank you Sir. I always try to comment in a way for those can question their own beliefs.

Keep up the good work.

God bless and take care.

Josean i detect again your great desire to attack the writer and not address the subject ,,..Yes I have said many times I am a Resident here with my own property and there is no such thing as a resident alien but maybe you feel some superiority if you are a born Dominican who constantly derides any achievements here rather than non Dominican Resident who rejoices in the achievements . I take nothing from this country but I give plenty ..I doubt if you can say the same .

Riardolito,
I believe regardless of being Dominican born or resident alien it breaks down to what one believes in the pursuit of happiness is what really matters where ALL BENEFIT......."take nothing but give plenty" a model all should follow.
Words to live by...Thanks for sharing your most inner Human spirit with all, a true sign of Humanity.
Take care.

Margaret Thatcher was a criminal not a great leader!
"Margaret Thatcher is a war criminal and should be tried alongside Stalin, Mussolini and Hitler."
ire suggests greater intensity than anger, rage suggests loss of self-control.
Too true with Glo - no self control - working for a corrupt corporation making auto parts and sending his son to university in the heart of the evil empire.
Someday he may regain his self control and start the real conquests of life.
S.

Abc-123-200

I get it now Margaret Thatcher part of the evil empire up with the likes of Mao, Stalin and Hitler, problem is all three mentioned are dead except Margaret Thatcher.......all totaled, are we up to half a billion killed, yet ?

Whoa ! so much for the United Wild Kingdom, 14kt Golden Triangle and the part about the "Sun never sets on the Evil empire". I sure your super proud.........aren't ya !

Good thing I never mentioned the rest of the world history of British rule.......lets say in the last 500 years........A real role model for nations to follow.

Question: how many lumps on your next spot of tea ?

I both agree and disagree with many of the comments here, and both are very refreshing to read, whether i agree or not. Im a Dominican Born, now American Citizen college student in the states and i just stumbled upon this website today, and im sad to say i had no idea about it. I would prefer if the articles were a little longer and if they included more analyses than they actually do, but i guess the pro for that would be that it allows the reader to somewhat do it on their own , such as the attempt in these posts. About the refinery, we understand the problems behind having Venezuela purchase such a large stake in the refinery, practically owning it. But we must also see a little of the history behind the refinery itself, prior to this, until 2008, REFIDOMSA was half owned by Royal Dutch Shell, which sold its share to the government following a series of disagreements, and that didnt turn out so well. Besides all the issues behind chavez his vision is still very important.

Cont.
DR is a member of PetroCaribe, which im sure we are aware that its a regional initiative in which Venezuela offers discounted oil to friendly countries in the Caribbean basin, including Cuba, it lets member countries buy oil at market value with only part of the payment needed up front. The remainder can be paid through a 25-year financing agreement on one percent annual interest. Yes this may also be a little probelmatic including the fact that it puts these countries into deeper debt, but im sure owing to a latin american compatriot cannot be worse than The United States. Moreover, in regards to the sale, the fact is that through Venezuela our refinery also has a larger amount of clients because Venezuela has proven oil reserves of around 99 billion barrels and is the western hemisphere's largest oil exporter. Which will lead me to agree with our finance minister Mr. Bengoa that this move will considerably increase the refinerys production and sales.

On another note...

Welcome dali716!

Cont.

Our country has done alot better than many other developing countries, but we have so much catching up to do on so many levels. We do have pockets of great prosperity in Dominican Republic, but thats no different than the rest of the world, while we do have pockets of increased wealth, other pockets are falling deeper into poverty. A 7 dollar increase in our GDP/GNP does not necessarily mean the country is doing better overall, it might just mean there is a more money going into the pockets of the wealthier. The greatest challenge of all has yet to happen, which is to figure out ways in which we can place value on things outside the monetary, such as healthcare, and education. Increasing the intellectual capital of our country is a sure way in which we can see prosperity on a larger scale.

"A 7 dollar increase in our GDP/GNP does not necessarily mean the country is doing better overall, it might just mean there is a more money going into the pockets of the wealthier. The greatest challenge of all has yet to happen, which is to figure out ways in which we can place value on things outside the monetary, such as healthcare, and education. Increasing the intellectual capital of our country is a sure way in which we can see prosperity on a larger scale. '

Thank you parents for me for raising such smart and articulate person!

Thank you josean, ur comment is greatly appreciated.

dali716,
Welcome, but........please inform all us uneducated folks about "the Chavez" vision for the DR.

I'm one who believes the DR has the potential that can reach prosperity with out Foreign Socialistic help or ideas.

Just look at Hugo-a-go-go's body language on the picture attached to this article as if to say "I'm in control of this" little LF "leave this up to me" I have "little confidence in my self"....besides no one dares to question me in Valenzuela and very soon the DR.

"Part payment upfront" are you kidding me ! what is the DR's total international dept ?

How many WMB or other loans payed off ?

What as a Nation has the DR given up already ?

Is the DR playing puppet to the puppet master ?

Can the DR afford to trust Hugo-a-go-go ?

Doe's tourist dollars ring a bell ?

If you don't mind me asking are you a OOOH'Blama supporter ? you don't have to answer that......

Take care.