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Weekly Report - 19 November 2009 (WR-09-46)

EL SALVADOR: Tax reform exposes limits of new alliances

Congress last week approved US$600m worth of international loans and bonds to deal with the damage wreaked by the recent floods, part of which will go on President Mauricio Funes's “extraordinary" budget for social investment, an initiative he had been seeking to push through the legislature for weeks. The swift approval of the funds once again points to Funes's upper hand in congress, following the recent split in the right-wing opposition Alianza Republicana Nacionalista (Arena) [WR-09-43], but the notoriously thorny issue of tax reform has exposed the limits of his new-found room for manoeuvre.

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