A controversial tax reform programme in the Dominican Republic was forced onto the country by the IMF, in the words of finance minister Vicente Bengoa, “at gun point”. The Republic’s president Leonel Fernández has admitted as much, saying that the tax reform measures, which seek to raise the value added tax on a range of basic consumer goods, and fiscal austerity are needed to meet the IMF’s fiscal targets. On 15 November, the same day the tax reforms were announced, the World Bank released a report arguing for improved banking supervision, electricity sector regulation and customs operations.
World Bank Enabling the Business of Agriculture rankings prescribe land privatisation at the expense of family farmers, pastoralists, and Indigenous Peoples.
As debt crises across the African continent continue to soar, concerns are raised about the gendered impact of debt-servicing conditions imposed by international financial institutions.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).