NewsWhore
09-23-2008, 03:30 PM
While the White House has asked the US Congress for US$700 billion to ride out the present financial crisis, described as the biggest bailout package since the Great Depression, President Leonel Fernandez took advantage of his visit to New York to speak at the UN General Assembly to announce plans were advanced for the contracting of the second line of the Santo Domingo Metro in 2009. The first line is expected to enter into operation latter this year or in early 2009. The President also announced the construction of a freight train between Santiago and Haina. Fernandez made his comments during a meeting with six economists at the Manhattan offices of The Economist. Fernandez discussed specifics of the DR economy and the panel discussed the potential trickle down effect of the US financial crisis on the DR. Fernandez explains the Metro construction will be part of a US$3 billion public-private alliance that will fund the construction of roads, bridges and hydroelectric projects. Confidently, Fernandez explained he doubts an international crisis will negatively affect the DR's ability to get the financing needed to build these projects.
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