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Santo Domingo. - If the International Monetary Fund (IMF) insists on its demand of an 18% jump in electric bill, president Leonel Fernandez prefers to halt the negotiations with the multilateral entity.
Wednesday’s affirmation from Senate president Reinaldo Pared comes one day after economy minister Temistocles Montas revealed the IMF’s demand, a position immediately rejected Thursday morning. “If the Monetary Fund insists on its petition of increasing the electricity rate, the President (Fernandez) prefers to break with the International Monetary Fund.”
The also ruling PLD party’s General Secretary’s position reveals a deadlock that prevents signing the Standby agreement’s 7th revision
Interviewed on the TV program Hoy Mismo, the lawmaker reiterated the government’s refusal of an increase electric bill. “That’s unequivocal, because it’s the position assumed by the President in our presence and of other government officials.”
Energy czar
In that regard, the CEO of the State-owned electric utility CDEEE, Ceslo Marranzini, also derided the demand for a higher bill, warning that it would lead to lower revenue instead.
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The amount of power produced to the amount of money received of it, can be interpreted to increasing people bills, rather than getting more people to pay their bills or stop those stealing it .
I think this is a mater of the way a report is read and then translated to the public to make it look like the government is sanding up to the IMF for the people....
All the IMF is stating as would any lender that you do not have the revenues to pay the interest and if you wish to borrow more you must increase your revenues.
Since tourisim is down, there is hardly and manufacturing in the DR and the only source of revenue is money laundering thenyour only option is to incresase the electric bill so as to pay interest.
You cannot tax any more in the DR because everybody has 2 sets of books one for the tax department and the other for internal use.
Leonel you have screwed your country and now you are trying to get your pork chop in for another 4 years.
However, I could be mistaken. Does anyone really know?
Senate president Reinaldo Pared is very concerned that the life he has grown accustomed to may be in jeopardy if the Dominican government is forced to pay the massive debt it has encumbered.
This is a guy who has endeared himself to wearing Rolex’s, drives Bentleys and Rolls Royces the thought of having to buy a Seiko and Toyota is beneath him, especial if he had to pay for hit with his own money.
He also is crybaby that will shed tears at the drop of a dime!
This island would be the richest island in the world if all of 451 mining projects were to be Nationalize. Leonel and the 40 thieves(PLD/PRC) are benefiting from the shares in stock from kick backs.
Q: Can some one tell me how can one find out how much of the precious metals have been taken out of this country? Is it public information or Elite only ? I'd like to run my own numbers.....just for shets and giggles...