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Ministry Denies Loma Miranda Mining Permit

Guzmán Ariza Lawyers & Consultants announced the entry of Aura Celeste Fernández as a partner in his office in Santo Domingo, starting in January of this year.

The president of the firm, Fabio J. Guzmán Ariza, welcomed him and stressed that: “Guzmán Ariza is highly pleased to have the lawyer Aura Celeste Fernández Rodríguez, who has accumulated, in her more than three decades of professional practice, a vast experience and unmatched reputation not only as a lawyer, but as a university professor, civil servant and judge ”.

Fernández Rodríguez has held highly relevant positions in the judiciary and in the State administration. For more information about Aura Celeste Fernández, visit her profile in the Lawyers section of www.drlawyer.com.

Central Bank Cuts Benchmark Interest Rate Again

The Central Bank has announced it is lowering the benchmark interest rate from 5 to 4.25%. This is the fourth time the Central Bank has lowered the overnight rate. Governor Hector Valdez Albizu says policymakers do not foresee any inflationary pressures in the next few months. Annual inflation was 4.9%, within the Central Bank’s target range of 5% plus or minus one percentage point.

[June 2013]

Chamber of Deputies Approves Check Bill

In his weekly column in the Hoy newspaper on February 13, the constitutionalist Eduardo Jorge Prats, one of the editors of the constitutional reform project that is currently known in the National Congress, highlighted the efforts of our Director General, Lic. Fabio J Guzmán Ariza, in these terms:

“Fabio Guzmán has started a crusade in favor of the proper use of the Spanish language in legal texts. As part of this initiative, whose flagships are his delicious column “Our language” in the magazine “Gaceta Judicial” and the recently inaugurated Fundación Guzmán Ariza Pro Academia Dominicana de la Lengua, the lawyer has joined forces with the director of the Dominican Academy de la Lengua, Dr. Bruno Rosario Candelier, and together they have reviewed the text of the Constitutional Reform Bill presented by the Executive Power to the National Congress, as a result of which they have presented their linguistic recommendations and observations directly to the National Congress.

We understand that these observations perfect the proposed constitutional texts, thereby contributing to the precision, clarity, simplicity and disclosure of what will eventually become the new Constitution. It is our firm conviction that the members of the Review Assembly, when discussing each of the articles of the constitutional proposal, will take these observations into account, mainly because they do not alter the content of the proposal in any way and, above all, because, as stated by Bentham, quoted by Guzmán, the legislator must scrupulously watch the choice of words. “

Government Ordered to Pay US$50 Million for Cancelling Contract

Two South Florida companies have won a US$50 million judgment against the governmental National Institute of Hydraulic Resources of the Dominican Republic over a canceled contract to build an irrigation system.

A Miami Federal Court issued a judgment by default on June 10 after the DR agency failed to respond to the suit. The plaintiffs in the suit were Architectural Ingenieria Siglo (AIS) and Sun Land LLC.

[June 2013]

Dominican Republic Tops Textile Exports

Dominican Republic exports the highest amount of textiles and apparels to the US among the member nations of DR-CAFTA (Central America Free Trade Agreement-Dominican Republic), according to ‘Major Shippers Report – U.S. General Imports’ published by the Office of Textiles and Apparel (OTEXA) of the US Department of Commerce.

[June 2013]

2012 Ranking of Banks in the DR

According to financial consultant Alejandro Fernandez, the best performing banks in the Dominican in 2012 were:

Citibank.
Santa Cruz.
BHD.
Popular.
Ademi.
Adopem.
Banesco.
Cibao.
APAP.
Scotiabank.
BLH.
Promedio.
Leon.
BDI.
Caribe.
Progreso.
Reservas.
La Nacional.
Alaver.
Proamerica.
Duarte.

[May 2013]

Dominican Public Debt is Lowest in Caribbean

At a recent talk, Scotiabank vice president Pablo Breard highlighted the fact that the Dominican public debt is the lowest among Caribbean countries in the past decade. The Dominican global debt is around 30% of GDP, he stated. Panama, Costa Rica, El Salvador, Jamaica, Barbados and Trinidad & Tobago have higher debt/GDP ratios. Breard forecast that the DR would benefit from the global economic recovery.

[May 2013]

District Attorney Shelves Corruption Case Against Former President Leonel Fernández

District Attorney Yeni Berenice Reynoso shelved the case filed by former DA Guillermo Moreno against former President Leonel Fernández for corruption in office, stating that the allegations presented by Moreno were not a crime under Dominican law. Moreno accused former President Leonel Fernandez of obtaining millions for his foundation (Fundación Global) from individuals and companies that had benefitted from contracts during terms in office. Moreno announced that he will appeal the decision.

[May 2013]

Barrick and Dominican Government Reach Agreement

Altagracia Paulino, executive director of the National Institute for the Protection of Consumer Rights (Pro Consumidor) received in her office Fabio J. Guzmán Ariza, president of Guzmán Ariza, Lawyers & Consultants, in his capacity as author of the work The language of the Dominican Constitution, which was recently published with the endorsement of the Dominican Academy of the Language.

The meeting took place last Wednesday, February 13; Both discussed the adoption of concrete measures to improve the linguistic quality of our legislation, including giving courses on drafting technique to those responsible for drafting the bills.

Guzmán Ariza chairs the Guzmán Ariza Foundation for the Dominican Language Academy and therefore holds a series of meetings with personalities related to the legislative and regulatory bodies of the country, with the hope that this will be the starting point to implement the plans to remedy the deficiencies of the current legal norms proposed in his work.

Zoila Martínez Chosen Ombudsperson

The Senate has elected Zoila Martínez as ombudsperson for a six-year term (2013-2019). A former District Attorney for Santo Domingo under the last Balaguer administration, Ms. Martínez obtained 15 votes out of 22 cast by the senators present. According to articles 190 and 191 of the Dominican Constitution, the ombudsperson is an independent authority with administrative and budgetary autonomy, whose basic duty is to safeguard the fundamental rights of individuals established under this Constitution and the law if they are violated by officials or agencies of the State and others.

[May 2013]