The Abinader administration has already announced a tax reform program, and most of the important economic actors have reacted, expressing their worries and concerns. The announced arrival of a mission of the International Monetary Fund (IMF) in mid-July, has many persons wondering just what they want to look at in the Dominican economic landscape. Visits by any IMF mission can be worrisome, given past events that have shaken the economic and political interests of the entire country.
Founded in 1944, with the Dominican Republic one of the original members, the IMF will be looking at such issues as tax incentives, who gets these incentives and the issue of tax evasion are all on the table during this visit.
Given the trillion-peso government budget for 2024, it is likely that the IMF will look at electricity rates, an expansion of the tax base, and a gradual increase in certain taxes.
The IMF is not just a lending agency. Their charter calls for the fund to oversee the economic stability of any nation. The agency frequently demands important changes. For this visit, it is expected that the mission will also be looking at some of the most fundamental economic issues, especially the Electricity Pact, and just what is happening with this public-private agreement regarding everything to do with electricity.
The IMF mission will be meeting with the Social and Economic Council (CES) regarding the commitments involved in the National Development Strategy (END) which involves structural issues that affect the economy and the nation’s ability to compete in world markets.
Read more:
Listin Diario
El Caribe
DR1 News
1 July 2024