NewsWhore
10-04-2007, 02:30 PM
The PLD party has taken upon itself defending the US$130 million in promissory notes scandal affecting the Fernandez administration. In dispute is a claim that the President unilaterally authorized the director of the Office of Supervisors of Public Works (OISOE) to sign for the taking on of the commercial bank credit, bypassing the regular procedure of submitting the commercial bank loan to congressional review. The PLD party is majority in the Congress.
Knowledge that the country had taken on the US$130 million loan only surfaced after the existence of the promissory was denounced by the PRD opposition party.
Defending the government taking on the debt, the PLD argued that prior to taking on the debt the government consulted with PRD political party lawyer Virgilio Bello Rosa who indicated that Art. 55 of the Constitution allows the President to sign for the financing.
To justifying the operation, the PLD spokesmen are emphasizing their predecessors did the same. Yesterday, in a press conference, the PLD came up with details on a similar transaction during the Mejia administration. The PLD threw the ball to the PRD court demanding that the PRD explain in 48 hours what that government did with US$155 million obtained through special powers of attorney for letters of credit issued by then President Mejia to today PRD presidential candidate Miguel Vargas Maldonado, when he was minister of Public Works during the Mejia government. The PLD says that Vargas Maldonado received authorization to open five letters of credit to the governmental Banco de Reservas for US$60 million, US$40million, US$30 million and US$25 million each in 2001. The money would be payable the next year. The power of attorney was signed to favor a previously unheard of company, Jordania Worldwide Trading & Consulting (WTC)
News commentators have demanded the government give explanations as to the use of the US$130 million, as this loan was not contemplated in the 2007 National Budget.
More... (http://www.dr1.com/index.html#1)
Knowledge that the country had taken on the US$130 million loan only surfaced after the existence of the promissory was denounced by the PRD opposition party.
Defending the government taking on the debt, the PLD argued that prior to taking on the debt the government consulted with PRD political party lawyer Virgilio Bello Rosa who indicated that Art. 55 of the Constitution allows the President to sign for the financing.
To justifying the operation, the PLD spokesmen are emphasizing their predecessors did the same. Yesterday, in a press conference, the PLD came up with details on a similar transaction during the Mejia administration. The PLD threw the ball to the PRD court demanding that the PRD explain in 48 hours what that government did with US$155 million obtained through special powers of attorney for letters of credit issued by then President Mejia to today PRD presidential candidate Miguel Vargas Maldonado, when he was minister of Public Works during the Mejia government. The PLD says that Vargas Maldonado received authorization to open five letters of credit to the governmental Banco de Reservas for US$60 million, US$40million, US$30 million and US$25 million each in 2001. The money would be payable the next year. The power of attorney was signed to favor a previously unheard of company, Jordania Worldwide Trading & Consulting (WTC)
News commentators have demanded the government give explanations as to the use of the US$130 million, as this loan was not contemplated in the 2007 National Budget.
More... (http://www.dr1.com/index.html#1)