Dominican Senate raises public debt limit

Santo Domingo.- In an extraordinary session this Monday, the Senate urgently approved an amendment to Law 90-24, allowing the Executive Branch to issue and place public debt securities. The amendment raises the debt ceiling from RD$350 billion to RD$361.618 billion, adding over RD$10 billion to the previously authorized limit. Despite intense debate and opposition from Senator Edward Espíritusanto, who criticized the measure as “financial improvisation” and a growing reliance on debt, the bill passed with a majority vote.

During the session, the Senate also approved other key initiatives. In first reading, a bill regulating the seizure of credits and personal property was passed, limiting each act to a maximum of ten credits. The measure was presented by Senators Ricardo de los Santos, Cristóbal Venerado Castillo, and Antonio Taveras Guzmán.

Additionally, the Senate approved in second reading a bill granting tax and tariff exemptions for cardiovascular, ophthalmologic, and endocrine medical supplies, promoted by Senator Ginnette Bournigal de Jiménez to improve access to essential health products. Another approved measure declared the El Seibo Bullfights as Intangible Cultural Heritage, proposed by Senator Santiago José Zorrilla.