NewsWhore
08-30-2012, 02:40 PM
Following a meeting at the Presidential Palace yesterday, Wednesday 29 August, President Danilo Medina agreed to pay the debt owed by the electricity sector, of over US$1 billion, by investing US$500 million in bonds to be placed in local banking, as contained in the Complementary Budget approved by Congress last July.
In addition, it was agreed to look for financing from a pool of Dominican banks with the aim of paying off the debt completely in around a fortnight.
Ruben Jimenez Bichara, executive vice president of the Public Electricity Corporation (CDEEE) said that Medina is committed to improving the electricity system. Jimenez Bichara went on to say that it was a difficult situation and there was no immediate solution but that the debt had to be paid and the President was committed to ensuring that this was achieved on the best terms.
He said that the generators would be paid this week or next, and confirmed that price increases were not on the agenda.
www.diariolibre.com/economia/2012/08/30/i349922_colocaran-us500-bonos-para-deuda-con-generadores.html (http://www.diariolibre.com/economia/2012/08/30/i349922_colocaran-us500-bonos-para-deuda-con-generadores.html)
www.hoy.com.do/el-pais/2012/8/29/443957/Gobierno-busca-dinero-para-pagar-electricidad (http://www.hoy.com.do/el-pais/2012/8/29/443957/Gobierno-busca-dinero-para-pagar-electricidad)
www.eldia.com.do/nacionales/2012/8/29/92253/CDEEE-gestiona-pagar-con-bonos-US500-millones-a-generadores (http://www.eldia.com.do/nacionales/2012/8/29/92253/CDEEE-gestiona-pagar-con-bonos-US500-millones-a-generadores)
More... (http://www.dr1.com/index.html#6)
In addition, it was agreed to look for financing from a pool of Dominican banks with the aim of paying off the debt completely in around a fortnight.
Ruben Jimenez Bichara, executive vice president of the Public Electricity Corporation (CDEEE) said that Medina is committed to improving the electricity system. Jimenez Bichara went on to say that it was a difficult situation and there was no immediate solution but that the debt had to be paid and the President was committed to ensuring that this was achieved on the best terms.
He said that the generators would be paid this week or next, and confirmed that price increases were not on the agenda.
www.diariolibre.com/economia/2012/08/30/i349922_colocaran-us500-bonos-para-deuda-con-generadores.html (http://www.diariolibre.com/economia/2012/08/30/i349922_colocaran-us500-bonos-para-deuda-con-generadores.html)
www.hoy.com.do/el-pais/2012/8/29/443957/Gobierno-busca-dinero-para-pagar-electricidad (http://www.hoy.com.do/el-pais/2012/8/29/443957/Gobierno-busca-dinero-para-pagar-electricidad)
www.eldia.com.do/nacionales/2012/8/29/92253/CDEEE-gestiona-pagar-con-bonos-US500-millones-a-generadores (http://www.eldia.com.do/nacionales/2012/8/29/92253/CDEEE-gestiona-pagar-con-bonos-US500-millones-a-generadores)
More... (http://www.dr1.com/index.html#6)