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Santo Domingo. - The Government’s claim that the global financial crisis put a dent on the country’s tax revenues isn’t enough for economists to support the issuing of US$1.0 billion in bonds, proposal which the Executive Branch submitted to Congress Monday.

The economist Pavel Isa affirmed that he rejects the bonds which would be placed in the international capitals market because in the handling of taxpayers’ money, “we’re faced with an irresponsible, little transparent and corrupt State”.

“In a normal situation and with a credible, moderately serious State in the way it spends, that would be the reasonable thing. In bad times you get into debt and pay what’s borrowed in good times. I refuse to support the idea of placing more funds in the hands of a disorganized, little credible and little transparent State,” the economist said.

Interviewed by Clave Digital, Isa added that the government needs to restructure its policy on public spending, before looking for mechanisms to finance the use of those funds.

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13 comment(s)
Written by: gmiller261, 16 Jul 2009 4:41 PM
From: United States
because in the handling of taxpayers’ money, “we’re faced with an irresponsible, little transparent and corrupt State”.

I refuse to support the idea of placing more funds in the hands of a disorganized, little credible and little transparent State,” the economist said.

Please do not give them ANY money.

Written by: josean, 16 Jul 2009 4:52 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
Read this GEM!

Please focus on the last outrageous sentence!

Source DR 1

More legislators!

The Revisory Assembly for the Constitution has increased the number of deputies from 178 to 190, rejecting a proposal from the President that sought to establish a minimum of 175 and a maximum of 250 deputies.
According to what was approved, 178 deputies "will be elected by the territorial districts in representation of the National District and the provinces"; "five (deputies) at the national level for accumulation of votes, preferably from parties or alliances or coalitions that would not have won seats and that have obtained at least one percent (1%) of the popular vote", and "seven (deputies) in representation of overseas Dominicans."

Continued:
Written by: josean, 16 Jul 2009 4:54 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
The assembly members also gave their blessing to article 68 that allows the Senate of the Republic to elect the members of the Chamber of Accounts from candidates submitted by the Chamber of Deputies, taking this task away from the President.
Diario Libre reports that among the attributions of the Senate, the Assembly also approved the ability "to authorize, after a request from the President of the Republic and in the absence of conventions that permit it, the presence of foreign troops in the Republic's territory for military exercises, determining the length of their stay; as well as approving or disapproving the dispatch of troops overseas on peace missions authorized by international organizations."
Also new was the approval of Numeral 16, which would put an end to the limbo into which much of the legislation approved by the Congress falls.

Continued:
Written by: josean, 16 Jul 2009 4:56 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
The numeral reads: "Once the Constitution deadline for the promulgation and publication of the laws passed by the Congress has expired, the legislation will be considered to be promulgated and the president of the Chamber that has sent the bill to the President will publish the law."

(and here is the GEM!)

The legislators rejected a motion that would oblige them to reveal their accounts publicly, on the grounds that they do not handle public funds. The legislators in effect have refused to be accountable for resources assigned to them.

Failed State!!!!!!!!!!!!!!!!!!!!!!!
Written by: josean, 16 Jul 2009 5:12 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
Message to Lie-onel Fernandez:

http://www.noticiassin.com/www/?g....ay_article&aid=6539&tid=4
Written by: juanb, 16 Jul 2009 5:19 PM
From: Dominican Republic
Our thieves in office (almost all of them) must be rubbing their hands together in glee, in anticipation of filling up their pockets even further
Written by: rumbabierta, 16 Jul 2009 6:01 PM
From: United States
This is just incredible $1 billion in american dollars. just go and finish selling la patria...........................
Written by: Ricardolito, 16 Jul 2009 7:27 PM
From: Dominican Republic, vieja Santo Domingo
This is no more than many of us have been saying here for many months as one scandal follows another ...most agree that borrowings are necessary for capital programmes that in turn produce efficiency and revenue but what is the credit rating of the country ,what is the cost of the borrowings and how will the money be used ,, what he is saying is nothing new ..but yet another voice of protest
Written by: WalterPolo, 16 Jul 2009 9:29 PM
From: Dominican Republic, Puerto Plata
sos wmf!!
Written by: BASTA, 16 Jul 2009 11:39 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
Lie-onel Fernandez: leave now or beware
Written by: okian, 17 Jul 2009 7:51 AM
From: United States
I'm sure they need the money. Financing corruption at the highest levels is expensive!
Written by: gmiller261, 17 Jul 2009 8:05 AM
From: United States

LF you empty suit. They spit in your face. You have NO balls.

You are one of the thieves.
Written by: abc200, 18 Jul 2009 10:47 AM
From: United Kingdom, Dominican Republic
Interestingly the dollar could fall dramatically in value and the loans to entepreneurs, such as farmers in DR, will bring rich rewards as global commoditiy prices rise.
S.
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