NewsWhore
06-18-2008, 06:50 PM
President Leonel Fernandez revealed yesterday evening that he has sent a letter to the United Nations Secretary General requesting the creation of a "solidarity fund" to finance the economies of developing countries that are being hard hit by increasing petroleum and food prices. The Chief Executive told reporters from Listin Diario that he sent Ban Ki-moon a letter two days ago under the aegis of the Central American System for Integration (SICA). He pointed out that without the facilities that Venezuela provides under the PetroCaribe Agreement, the Dominican economy would not be sustainable. Fernandez commented that behind the spiraling price of petroleum is speculation. "There are no clear rules, and there are transactions that are not regulated in the stock market, which creates speculation, and more so, there is the belief that there could be fraud. What we understand is this level of speculation could lead humanity to an abysm," he said. Fernandez spoke during the presentation of the book on the development of the economy, "Where We are Headed," by Economy Minister Temistocles Montas.
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