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.
23 November 2006
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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