The presidential candidate of the Modern Revolutionary Party (PRM) is the first to address the plight of thousands of informal sector workers and thousands of persons that have lost their job or their source of making a living. Speaking to the nation on TV, Abinader proposed a RD$5 billion Contingency Fund be created.
Abinader figures that around 500,000 people will lose their living income and this fund would guarantee a minimum monthly stipend of RD$10,000 for each. He said the measure could be extended to mitigate the impact of the reduction or absence of income due to a reduced workday or loss of employment of thousands of formal and informal workers. He said this would be equivalent to 0.5% of the general state budget for the year.
Abinader said that he also supports the financial flexibility measures announced on Wednesday, 18 March by the Central Bank. Abinader said that given that a high percentage of citizens have personal loans, a grace period during the state of emergency should be contemplated. He also suggested the temporary suspension of ITBIS surcharges and other penalties.
Central Bank governor Hector Valdez Albizu estimated at US$400 million the losses of the tourism sector alone from March to June 2020. The president of the Conatra transport company, the largest in the country, estimated losses of the sector at RD$2 billion.
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19 March 2020