NewsWhore
01-11-2007, 05:40 PM
The Dominican government plans to issue 50-year bonds to cover the deficit accumulated by the Central Bank, which according to Listin Diario was at RD$202 billion in 2005. These figures were provided by accounting firm Price Waterhouse Coopers. Price Waterhouse points out that article 82 of Monetary Law 183-02 on 21 November of 2002 establishes that the government would cover the accumulated Central Bank deficit beginning one year after the legislation went into effect.
On the date that the Monetary Law was applied, 3 December 2002, this was valued at RD$39.1 million and Listin Diario writes that the accumulated deficit is for losses dating back to the foundation of the bank in 1947 and through the banking crisis of 2003.
More... (http://www.dr1.com/index.html#11)
On the date that the Monetary Law was applied, 3 December 2002, this was valued at RD$39.1 million and Listin Diario writes that the accumulated deficit is for losses dating back to the foundation of the bank in 1947 and through the banking crisis of 2003.
More... (http://www.dr1.com/index.html#11)