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
Julio César Chávez vs. Oscar De La Hoya offense, De La Hoya took control of the latter stages of the round and brutalized Chavez with a series of hard combinations and broke Chavez' nose with a left hook. As the cut around his eye had deteriorated even further, Cortez halted the fight once again and sent him to ringside physician Flip Homansky. Homansky then informed Cortez that Chavez could not continue due to the multiple lacerations to his face and De La Hoya was awarded with the TKO victory at 2:37 of the fourth round Julio César Chávez vs. Oscar De La Hoya Julio César Chávez vs. Oscar