NewsWhore
03-12-2010, 05:30 PM
The Chamber of Deputies declared yesterday that the legislative proposal authorizing the emission of US$1 billion in bonds by the President was urgent and approved it after two consecutive readings. The bonds will be placed on the international capital market. The initiative was approved with the majority vote of the ruling PLD party and allies from the PRSC, as reported in Diario Libre.
It will now be sent to the President for his signature and publication. The PRD deputies stayed for the first reading of the proposal for the bonds emission, but left the chamber for the second reading. This facilitated the passing of the bill when the ruling party met the necessary two-thirds vote of "those present" to approve the measure. This special majority was necessary because the proposal had been deemed to be of an "urgent" nature.
With the first reading, the project was approved with 97 votes in favor and 7 against. The PRD members abstained. During the second reading 101 deputies voted in favor and 2 voted against.
Voting against were Pelegrin Castillo of the National Progressive Force and Mario Fernandez Savinon (Yiye) of the PRSC.
During the debates, spokesman for the PRD deputies, Jose Leonel Cabrera (Neney), complained that there was a proviso for the emission of US$600 million in the 2010 Budget and that the legislative proposal was adding a further US$400 million. Cabrera added that the government was going to use these funds to build infrastructure projects in the election districts where the PLD was most likely to lose in the 16 May elections. This claim was refuted by the president of the lower chamber budget commission, Jose Cabrera, who reminded the PRD that they had pre-approved the bond issue and several loans that are basis for this year's budget, says Diario Libre.
More... (http://www.dr1.com/index.html#7)
It will now be sent to the President for his signature and publication. The PRD deputies stayed for the first reading of the proposal for the bonds emission, but left the chamber for the second reading. This facilitated the passing of the bill when the ruling party met the necessary two-thirds vote of "those present" to approve the measure. This special majority was necessary because the proposal had been deemed to be of an "urgent" nature.
With the first reading, the project was approved with 97 votes in favor and 7 against. The PRD members abstained. During the second reading 101 deputies voted in favor and 2 voted against.
Voting against were Pelegrin Castillo of the National Progressive Force and Mario Fernandez Savinon (Yiye) of the PRSC.
During the debates, spokesman for the PRD deputies, Jose Leonel Cabrera (Neney), complained that there was a proviso for the emission of US$600 million in the 2010 Budget and that the legislative proposal was adding a further US$400 million. Cabrera added that the government was going to use these funds to build infrastructure projects in the election districts where the PLD was most likely to lose in the 16 May elections. This claim was refuted by the president of the lower chamber budget commission, Jose Cabrera, who reminded the PRD that they had pre-approved the bond issue and several loans that are basis for this year's budget, says Diario Libre.
More... (http://www.dr1.com/index.html#7)