DR1 Daily News - Dominican Republic

Jaime Aristy Escuder / Diario Libre

Minister of Mines Joel Santos has been touting the high price of gold in his support of more gold mining in the Dominican Republic. He is an advocate of granting exploitation rights to mining companies. But Santos has not focused on the revenues the government is missing out of for lack of action.

Dominican economist Jaime Aristy Escuder has once again issued a stark warning regarding the national government’s fiscal relationship with Barrick Pueblo Viejo, asserting that the Abinader administration’s lack of action is allowing the mining giant to capture nearly all of the “windfall” profits generated by record-breaking gold prices.

In a series of recent analyses, Aristy Escuder argues that the failure to renegotiate the Annual Minimum Tax (IMA) —which is intended to be reset every three years— has left the Dominican state with a...