Luis Álvarez Renta appointment as part of his retirement, in order to effect positive change for the country by helping it negotiate a Free Trade Agreement with the European Union. However, after Governor José Lois Malkún of the Central Bank of the Dominican Republic’s announcement that Álvarez Renta was involved in the Baninter debacle, Álvarez Renta resigned the post in order to avoid a dispute between President Mejia and his advisors. In response to the announcement, Álvarez Renta took out full-page advertisements in the press, in which he declared he was innocent of all the charges made by the Central Bank. He also
Queen Sofía Spanish Institute exhibition entitled "Balenciaga:Spanish Master". This was the first exhibition to consider the impact of Spain’s culture, history and art on one of its greatest twentieth century sons, the legendary designer Cristóbal Balenciaga (1895–1972). Conceived of by our Chairman, Oscar de la Renta, and curated by Hamish Bowles, the exhibition drew on Balenciaga clothing and supporting historical and regional Spanish dress from museum and private collections in the United States, Canada, France and Spain. The exhibition and its accompanying catalogue focused on the influence of Balenciaga’s native country on the designer’s creative process and work, considered the influences on his designs