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
Oscar de la Renta of clothing called O Oscar. De la Renta said he wanted to attract new customers whom he could not reach before. In 2006, de la Renta designed Tortuga Bay, a boutique hotel at Puntacana Resort and Club. The hotel is part of the luxury hotel collection, The Leading Hotels of the World. In 1967 and 1968, de la Renta won the Coty Award (the U.S. fashion industry "Oscars") and in 1973 was inducted into the Coty Hall of Fame. From 1973 to 1976, and from 1986 to 1988, he served as President of the CFDA. He is also a two-time