NewsWhore
10-25-2007, 02:30 PM
With many questions still unanswered regarding the US$130 million Sun Land scandal, details of several other deals coming out of the woodwork. Yesterday, Sun Land general manager Heredia Lombert told radio journalist Huchi Lora that there were no more loans.
But now Diario Libre is reporting that there are more Sun Land loans. The first scandal revolved around a US$130 million loan, that was revealed when protested by the PRD opposition party. Then radio journalist revealed there the minister of Public Works had contracted another US$200 million loan signed by the Minister of Public Works. The government responded that one was annulled more than a year after it was signed. These revelations came after the government would cancel a US$132 million loan with Sun Land that was sent to Congress and deemed overpriced.
Now, Sun Land vice president Rafael Suncar says the country also will have to pay back a commercial bank loan for US$51 million with INDHRI (National Hydraulic Resources Institute) and two more loans with the Armed Forces (FFAA) and INVI (National Housing Institute). Quoted in Diario Libre, Sun Land vice president Rafael Suncar said that public conflicts and rejection of the loans is nothing new. Suncar says that the company has been dealing with this since 1993, when they first came to the DR. He added that lack of information or political chess moves might be behind the media hype surrounding the loans, but added that this is not exclusive to the DR. He continued to defend the loans and added that he would continue signing as many contracts as the government offered. He did highlight the possibility that the increase in negative press could keep foreign investors away from the DR. Tenders were not called for any of these loans.
More... (http://www.dr1.com/index.html#9)
But now Diario Libre is reporting that there are more Sun Land loans. The first scandal revolved around a US$130 million loan, that was revealed when protested by the PRD opposition party. Then radio journalist revealed there the minister of Public Works had contracted another US$200 million loan signed by the Minister of Public Works. The government responded that one was annulled more than a year after it was signed. These revelations came after the government would cancel a US$132 million loan with Sun Land that was sent to Congress and deemed overpriced.
Now, Sun Land vice president Rafael Suncar says the country also will have to pay back a commercial bank loan for US$51 million with INDHRI (National Hydraulic Resources Institute) and two more loans with the Armed Forces (FFAA) and INVI (National Housing Institute). Quoted in Diario Libre, Sun Land vice president Rafael Suncar said that public conflicts and rejection of the loans is nothing new. Suncar says that the company has been dealing with this since 1993, when they first came to the DR. He added that lack of information or political chess moves might be behind the media hype surrounding the loans, but added that this is not exclusive to the DR. He continued to defend the loans and added that he would continue signing as many contracts as the government offered. He did highlight the possibility that the increase in negative press could keep foreign investors away from the DR. Tenders were not called for any of these loans.
More... (http://www.dr1.com/index.html#9)