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Weekly Report - 15 October 2020 (WR-20-41)

TRACKING TRENDS

DOMINICAN REPUBLIC | Abinader abandons new taxes. President Luis Abinader announced last week that he would withdraw proposed new taxes that underpinned the government’s 2021 budget proposal [WR-20-40] aimed at addressing the impact of the coronavirus (Covid-19) pandemic. He said that the government had undertaken a “profound effort to reduce spending, sector by sector”, and had reached an agreement with the financial sector and Canadian mining company Barrick Gold (which operates the Pueblo Viejo mine - whereby both agreed to prepay contributions to the government. In a national address, Abinader said the deal would provide the government with resources equivalent to the proposed taxes.

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