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
Francisco Costa (designer) enrolled in a language class at Hunter College and took courses at the Fashion Institute of Technology at night. He obtained employment with Herbert Rounick, whose Seventh Avenue (Manhattan) company made dresses for Oscar de la Renta and Bill Blass. Costa went to work for de la Renta after Rounick's death, designing for the firm's Japanese licenses. Costa credits de la Renta with teaching him the most about both designing clothes and life. He remained with the company for five years. Klein's partner, Barry Schwartz, brought Costa's name to Klein's attention in 2001. Costa became the principal designer for the