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One Year of Hell with the New Dominican President Leonel Fernández
By Donald Harrison
At least that’s what the Dominican people that I talked to told me.
They say that there is no money in the street and babies do not have milk and people eat sometimes and sometime they don’t.
The problem is Leonel Fernández was raised in the United States and he is governing as if the Dominican Republic were a rich American state. American style, he is taxing the people to the point that they can’t breathe and for sure they can’t eat. He is flooding the economy with borrowed IMF dollars and he has revalued the peso from 56 to 1 back down to 28 to 1 but the prices are still at 56 to 1! The government claims to have finally got a grip on inflation but they stopped inflation at prices somewhere between 56 to 1 and 60 to 1. In other words if you trade a dollar at 28 to 1 when you go to the supermarket prices are still at 60 to 1. Except for chicken, if you like chicken if you look for a sale price it can be found at little less than one dollar a pound! Everything else is priced out of this world! Most Americans carrying dollars have packed their bags and gone home. If a person in New York was sending their poor family money, let’s say $200 dollars per month, to have the same purchasing power they would now have to send $400 dollars per month!
The government is holding the dollar down artificially to pay off all their bad debts in dollars. When the lid blows off the dollar may go to $100 to 1. This American raised president is good at making it go his way but not the people’s way.
About the Author
I am a school teacher who travels the world looking for a great but low cost of living country to retire in. So far I haven't found such a country.
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