NewsWhore
12-01-2011, 01:10 PM
After two consecutive readings on Wednesday, the Senate approved a proposal that the Executive Branch had sent that same morning, asking for authorization for the Banco de Reservas to finance a loan of a billion pesos to several state entities including city councils and the Municipal League, so that they could pay their employees their Christmas bonus. El Nuevo Diario reports that the loan will be paid back at a favorable rate in 11 installments. The Senate also approved after one reading the proposal that authorizes the government, through the Ministry of Hacienda to issue bonds for a total of RD$18 billion to finance the 2012 budget.
Tommy Galan, the president of the Hacienda Commission in the upper house, expressed his approval of the bill. The senators also approved the extension from one to five years of the Ministry of Hacienda's US$210 million credit line with the Banco de Reservas, which it handles at its discretion. The President said that the legislation would allow the Banco de Reservas to convert it from a short-term to a long-term loan.
More... (http://www.dr1.com/index.html#2)
Tommy Galan, the president of the Hacienda Commission in the upper house, expressed his approval of the bill. The senators also approved the extension from one to five years of the Ministry of Hacienda's US$210 million credit line with the Banco de Reservas, which it handles at its discretion. The President said that the legislation would allow the Banco de Reservas to convert it from a short-term to a long-term loan.
More... (http://www.dr1.com/index.html#2)