NewsWhore
06-09-2006, 04:10 PM
The Minister for Technical Affairs for the Presidency, Temistocles Montas, said yesterday that politics were the cause of the 2003 banking crisis that plunged the Dominican Republic into record breaking inflation and currency devaluation. Montas said that "banking supervision did not work in the past, and was one of the key elements in the banking crisis because actions from the Superintendent of Banks were influenced by politics and by political pressure from the Presidential Palace." Listin Diario reporters interviewed Montas yesterday at the Superintendent of Securities where he stated that because of the recent past, it was necessary to isolate the supervisory entities from political pressures. If this was not done, according to one of the President's closest advisors, things would not go well for the Dominican Republic and the country will have to face continual crisis.
Link To Original Article (http://www.dr1.com/index.html#5)
Link To Original Article (http://www.dr1.com/index.html#5)