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COUNTRY INSIGHTS

Dominican Rep: Growth significantly lower than expected in 1Q-2013
DOMINICAN REPUBLIC · In Brief · 24 May 2013

Yesterday, the Central Bank released its first quarterly report for 2013. The figures are staggering. Compared to the 1Q-2012, GDP growth was 0.3%, the lowest in almost 10 years (we forecasted 1%). Local manufacturing activity dropped by 3.7%, construction by 2.9%, and commerce by 2.6%. Agricultu...

New deal DomRep-Barrick Gold increases significantly government revenues
DOMINICAN REPUBLIC · In Brief · 13 May 2013

Last week, the governmentof the Dominican Republic and Barrick Gold Corp. announced that they reached apreliminary agreement in order to change the terms of their 2009 contract forthe exploitation of the gold mine in Pueblo Viejo. The new contract will significantly improvethe government’s cash f...

Methodological concerns on inflation calculation
CHILE · In Brief · 22 Apr 2013

Some days ago, a local bank’s report raised some doubts regarding the way in which the prices of some goods have being collected by the National Office of Statistics (INE). In particular, the report indicated that the evolution of some prices has been underestimated due to methodological failures...

Dominican Rep placed Sovereign Bonds at 5.875%
DOMINICAN REPUBLIC · In Brief · 12 Apr 2013

Yesterday, the government of the Dominican Republic announced that it successfully placed USD 1 bn in Sovereign Bonds. The interest rate negotiated was 5.875% on bonds with 10 years maturity. This has been the lowest rate negotiated by the DR since its first Sovereign Bonds issued in September 20...

Chile: Bill that reduces stamp and duty tax to be sent to Congress
CHILE · In Brief · 26 Mar 2013 · 2 responses

Minister of Finance of Chile Felipe Larrain announced today that the Executive will send a bill to Congress that reduce the stamp and duty tax on credit from 0.4% to 0.2%. The reduction in this tax (imposed on loans) is likely to generate more fears of overheating of the Chilean economy. Moreover...

Dominican Rep: tax revenues above target
DOMINICAN REPUBLIC · In Brief · 20 Mar 2013

Good news from the revenues side: during the first two months of the year, tax revenues were above target. Authorities reported a 108% accomplishment. Revenues totaled DOP 46.7 bn, 26.1% more than the first two months of last year. That was clearly the result of the recently approved tax reform a...

Chilean government announcements
CHILE · In Brief · 11 Mar 2013

President Sebastian Piñera announced yesterday that he will send a bill to Congress that gives a one-time special bonus to low and middle-income families. The bonus would benefit more than 2 million families (300,000 more families than those considered in the bonus implemented to face the global ...

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