LISTSERV mailing list manager LISTSERV 16.5

Help for PORTSIDE Archives


PORTSIDE Archives

PORTSIDE Archives


PORTSIDE@LISTS.PORTSIDE.ORG


View:

Message:

[

First

|

Previous

|

Next

|

Last

]

By Topic:

[

First

|

Previous

|

Next

|

Last

]

By Author:

[

First

|

Previous

|

Next

|

Last

]

Font:

Proportional Font

LISTSERV Archives

LISTSERV Archives

PORTSIDE Home

PORTSIDE Home

PORTSIDE  November 2012, Week 2

PORTSIDE November 2012, Week 2

Subject:

Anti-Austerity Protests Rock Dominican Republic

From:

Portside Moderator <[log in to unmask]>

Reply-To:

[log in to unmask]

Date:

Wed, 14 Nov 2012 22:08:04 -0500

Content-Type:

text/plain

Parts/Attachments:

Parts/Attachments

text/plain (174 lines)

Anti-Austerity Protests Rock Dominican Republic

Here's How Bad the Deficit Problem Is in the
Dominican Republic

	Dominicans attend a demonstration against the
	fiscal reform in Santo Domingo, Dominican
	Republic, Sunday, Nov. 11, 2012. The measure
	will increase the general sales tax to 18
	percent from 16 percent, will raise the price
	of gasoline and impose taxes on basic food
	products. The sign reads in Spanish: "Social
	inequality is more violent than any protest."
	(Manuel Diaz/AP Photo)
	http://tinyurl.com/ar2h4kt

By Manuel Rueda
ABC News
November 13, 2012

http://abcnews.go.com/ABC_Univision/News/dominican-republics-fiscal-reform-protests-deficit-problems/story?id=17708900#.UKQESGewUzR

Imagine thousands of protesters in a hot tropical
country, meeting in a park, carrying signs that say,
"there's not a lack of money here, there are just too
many thieves." Or "tell me who's in jail and then we
can talk about raising taxes."

Add some lively percussion to the mix, and that's
essentially what's been going on in the Dominican
Republic since last Wednesday, when the
government said that it would raise taxes on citizens
so that it could cut its massive deficit.

The pictures from the protests against the
government's fiscal reform package, also known as
the paquetazo, have been widely circulated on social
media sites.

A bystander at one of the protests was even shot by
police on Thursday. There's also a popular Facebook
meme that compares the latest protest in Santo
Domingo, which took place on Sunday, to a historic
protest that unleashed a rebellion against military
dictatorship back in 1965.

Anna Szterenfeld, the Latin America Director at the
Economist Intelligence Unit, says the government's
financial situation is rather critical, but it's not
exactly Greece.

The Dominican government is expected to end 2012
with a deficit of $4.6 billion, an amount that
represents roughly 6.8 percent of the country's GDP.
This budget gap is two times larger than last year's
deficit.

And if the government continues to sustain such a
bloated deficit, it may not be able to secure a $2
billion IMF loan that is currently in the works,
because the IMF has explicitly said it will not loan to
any country that doesn't have its finances together.

So, in order to reduce the deficit for 2013, the
Dominican government approved a fiscal reform
package on Saturday that raises the national sales
tax from 16 to 18 percent. New taxes will also be
imposed on liquor, cigarettes and fuel.

Protesters who have taken to the streets of Santo
Domingo and other Dominican cities say they
understand that there is a debt problem. But they
believe the government should cut down its own
expenditures, instead of hitting citizens with new
taxes.

"We pay all these taxes, and we see nothing in
return," said Lillian Castillo, who attended a protest
in Santo Domingo's Independence Park on Sunday,
with her husband and a friend.

Like many at the protest, Castillo believes that
government corruption and overspending have led
to the country's bloated deficit. She mentioned
Education Minister Josefina Pimentel, whose salary
was raised from $4,660 to $7,500 per month, as tax
increases were being discussed by the country's
Congress.

"I consider myself to be apolitical," Castillo said via
Facebook. "But this fiscal reform package was the
drop that made the glass spill." Szterenfeld
attributes the spike in the Dominican Republic's
deficit to outgoing president Lionel Fernandez who
spent millions in infrastructure projects, partially
aimed at "securing" his legacy. Big spending
programs also helped his hand-picked successor,
Danilo Medina to win the presidential election in
May.

Another factor that keeps the deficit large is that the
government is currently spending more than $1
billion every year in electricity subsidies.

"Fiscal adjustment had to happen," Szterenfeld said.
"But where the real anger comes from is that people
are seeing that spending by the government is not
changing."

If the Dominican Republic does not decrease its
deficit, it will be more expensive for the country to
borrow money from banks, and to sell bonds. These
funds are crucial to jumpstarting poverty reduction
programs and education initiatives that the country
needs and that Medina had promised to deliver
during his presidential campaign.

Szterenfeld also added that while protests against
the fiscal reforms have gained some momentum in
recent days, they are not likely to turn into a
massive social movement that will destabilize the
current government.

Protest numbers have indeed been modest, with just
6,000 people attending the protest at Santo
Domingo's Independence Park, according to local
media reports. Even if pictures from the crowded
site look impressive, it's worth noting that more
than two million people live in Santo Domingo's
metropolitan area.

Another key factor is that people in the Dominican
Republic are not losing their jobs at record speeds
like in Spain, or Greece.

In fact, the economy of the Dominican Republic has
been performing rather well. Propelled by tourism,
mining and manufacturing, its economy has
attained one of the fastest growth rates in Latin
America over the past three years, and grew by 4.5
percent in 2011.

The country could actually be able to "grow itself
out," of the deficit problem if the economy continues
to work well, and if the government gets more strict
with how it spends its money.

Szterenfeld said that the timing of these fiscal
reforms, right at the beginning of President Medina's
four-year term, is rather interesting.

"He's trying to get the painful [part] done now," she
said. "Once he's able to get the public finances in
order, he should be able to start doing the things he
was elected for."

___________________________________________

Portside aims to provide material of interest to people
on the left that will help them to interpret the world
and to change it.

Submit via email: [log in to unmask]

Submit via the Web: http://portside.org/submittous3

Frequently asked questions: http://portside.org/faq

Sub/Unsub: http://portside.org/subscribe-and-unsubscribe

Search Portside archives: http://portside.org/archive

Contribute to Portside: https://portside.org/donate

Top of Message | Previous Page | Permalink

Advanced Options


Options

Log In

Log In

Get Password

Get Password


Search Archives

Search Archives


Subscribe or Unsubscribe

Subscribe or Unsubscribe


Archives

October 2019, Week 3
October 2019, Week 2
October 2019, Week 1
September 2019, Week 5
September 2019, Week 4
September 2019, Week 3
September 2019, Week 2
September 2019, Week 1
August 2019, Week 5
August 2019, Week 4
August 2019, Week 3
August 2019, Week 2
August 2019, Week 1
July 2019, Week 5
July 2019, Week 4
July 2019, Week 3
July 2019, Week 2
July 2019, Week 1
June 2019, Week 5
June 2019, Week 4
June 2019, Week 3
June 2019, Week 2
June 2019, Week 1
May 2019, Week 5
May 2019, Week 4
May 2019, Week 3
May 2019, Week 2
May 2019, Week 1
April 2019, Week 5
April 2019, Week 4
April 2019, Week 3
April 2019, Week 2
April 2019, Week 1
March 2019, Week 5
March 2019, Week 4
March 2019, Week 3
March 2019, Week 2
March 2019, Week 1
February 2019, Week 4
February 2019, Week 3
February 2019, Week 2
February 2019, Week 1
January 2019, Week 5
January 2019, Week 4
January 2019, Week 3
January 2019, Week 2
January 2019, Week 1
December 2018, Week 5
December 2018, Week 4
December 2018, Week 3
December 2018, Week 2
December 2018, Week 1
November 2018, Week 5
November 2018, Week 4
November 2018, Week 3
November 2018, Week 2
November 2018, Week 1
October 2018, Week 5
October 2018, Week 4
October 2018, Week 3
October 2018, Week 2
October 2018, Week 1
September 2018, Week 5
September 2018, Week 4
September 2018, Week 3
September 2018, Week 2
September 2018, Week 1
August 2018, Week 5
August 2018, Week 4
August 2018, Week 3
August 2018, Week 2
August 2018, Week 1
July 2018, Week 5
July 2018, Week 4
July 2018, Week 3
July 2018, Week 2
July 2018, Week 1
June 2018, Week 5
June 2018, Week 4
June 2018, Week 3
June 2018, Week 2
June 2018, Week 1
May 2018, Week 5
May 2018, Week 4
May 2018, Week 3
May 2018, Week 2
May 2018, Week 1
April 2018, Week 5
April 2018, Week 4
April 2018, Week 3
April 2018, Week 2
April 2018, Week 1
March 2018, Week 5
March 2018, Week 4
March 2018, Week 3
March 2018, Week 2
March 2018, Week 1
February 2018, Week 4
February 2018, Week 3
February 2018, Week 2
February 2018, Week 1
January 2018, Week 5
January 2018, Week 4
January 2018, Week 3
January 2018, Week 2
January 2018, Week 1
December 2017, Week 5
December 2017, Week 4
December 2017, Week 3
December 2017, Week 2
December 2017, Week 1
November 2017, Week 5
November 2017, Week 4
November 2017, Week 3
November 2017, Week 2
November 2017, Week 1
October 2017, Week 5
October 2017, Week 4
October 2017, Week 3
October 2017, Week 2
October 2017, Week 1
September 2017, Week 5
September 2017, Week 4
September 2017, Week 3
September 2017, Week 2
September 2017, Week 1
August 2017, Week 5
August 2017, Week 4
August 2017, Week 3
August 2017, Week 2
August 2017, Week 1
July 2017, Week 5
July 2017, Week 4
July 2017, Week 3
July 2017, Week 2
July 2017, Week 1
June 2017, Week 5
June 2017, Week 4
June 2017, Week 3
June 2017, Week 2
June 2017, Week 1
May 2017, Week 5
May 2017, Week 4
May 2017, Week 3
May 2017, Week 2
May 2017, Week 1
April 2017, Week 5
April 2017, Week 4
April 2017, Week 3
April 2017, Week 2
April 2017, Week 1
March 2017, Week 5
March 2017, Week 4
March 2017, Week 3
March 2017, Week 2
March 2017, Week 1
February 2017, Week 4
February 2017, Week 3
February 2017, Week 2
February 2017, Week 1
January 2017, Week 5
January 2017, Week 4
January 2017, Week 3
January 2017, Week 2
January 2017, Week 1
December 2016, Week 5
December 2016, Week 4
December 2016, Week 3
December 2016, Week 2
December 2016, Week 1
November 2016, Week 5
November 2016, Week 4
November 2016, Week 3
November 2016, Week 2
November 2016, Week 1
October 2016, Week 5
October 2016, Week 4
October 2016, Week 3
October 2016, Week 2
October 2016, Week 1
September 2016, Week 5
September 2016, Week 4
September 2016, Week 3
September 2016, Week 2
September 2016, Week 1
August 2016, Week 5
August 2016, Week 4
August 2016, Week 3
August 2016, Week 2
August 2016, Week 1
July 2016, Week 5
July 2016, Week 4
July 2016, Week 3
July 2016, Week 2
July 2016, Week 1
June 2016, Week 5
June 2016, Week 4
June 2016, Week 3
June 2016, Week 2
June 2016, Week 1
May 2016, Week 5
May 2016, Week 4
May 2016, Week 3
May 2016, Week 2
May 2016, Week 1
April 2016, Week 5
April 2016, Week 4
April 2016, Week 3
April 2016, Week 2
April 2016, Week 1
March 2016, Week 5
March 2016, Week 4
March 2016, Week 3
March 2016, Week 2
March 2016, Week 1
February 2016, Week 5
February 2016, Week 4
February 2016, Week 3
February 2016, Week 2
February 2016, Week 1
January 2016, Week 5
January 2016, Week 4
January 2016, Week 3
January 2016, Week 2
January 2016, Week 1
December 2015, Week 5
December 2015, Week 4
December 2015, Week 3
December 2015, Week 2
December 2015, Week 1
November 2015, Week 5
November 2015, Week 4
November 2015, Week 3
November 2015, Week 2
November 2015, Week 1
October 2015, Week 5
October 2015, Week 4
October 2015, Week 3
October 2015, Week 2
October 2015, Week 1
September 2015, Week 5
September 2015, Week 4
September 2015, Week 3
September 2015, Week 2
September 2015, Week 1
August 2015, Week 5
August 2015, Week 4
August 2015, Week 3
August 2015, Week 2
August 2015, Week 1
July 2015, Week 5
July 2015, Week 4
July 2015, Week 3
July 2015, Week 2
July 2015, Week 1
June 2015, Week 5
June 2015, Week 4
June 2015, Week 3
June 2015, Week 2
June 2015, Week 1
May 2015, Week 5
May 2015, Week 4
May 2015, Week 3
May 2015, Week 2
May 2015, Week 1
April 2015, Week 5
April 2015, Week 4
April 2015, Week 3
April 2015, Week 2
April 2015, Week 1
March 2015, Week 5
March 2015, Week 4
March 2015, Week 3
March 2015, Week 2
March 2015, Week 1
February 2015, Week 4
February 2015, Week 3
February 2015, Week 2
February 2015, Week 1
January 2015, Week 5
January 2015, Week 4
January 2015, Week 3
January 2015, Week 2
January 2015, Week 1
December 2014, Week 5
December 2014, Week 4
December 2014, Week 3
December 2014, Week 2
December 2014, Week 1
November 2014, Week 5
November 2014, Week 4
November 2014, Week 3
November 2014, Week 2
November 2014, Week 1
October 2014, Week 5
October 2014, Week 4
October 2014, Week 3
October 2014, Week 2
October 2014, Week 1
September 2014, Week 5
September 2014, Week 4
September 2014, Week 3
September 2014, Week 2
September 2014, Week 1
August 2014, Week 5
August 2014, Week 4
August 2014, Week 3
August 2014, Week 2
August 2014, Week 1
July 2014, Week 5
July 2014, Week 4
July 2014, Week 3
July 2014, Week 2
July 2014, Week 1
June 2014, Week 5
June 2014, Week 4
June 2014, Week 3
June 2014, Week 2
June 2014, Week 1
May 2014, Week 5
May 2014, Week 4
May 2014, Week 3
May 2014, Week 2
May 2014, Week 1
April 2014, Week 5
April 2014, Week 4
April 2014, Week 3
April 2014, Week 2
April 2014, Week 1
March 2014, Week 5
March 2014, Week 4
March 2014, Week 3
March 2014, Week 2
March 2014, Week 1
February 2014, Week 4
February 2014, Week 3
February 2014, Week 2
February 2014, Week 1
January 2014, Week 5
January 2014, Week 4
January 2014, Week 3
January 2014, Week 2
January 2014, Week 1
December 2013, Week 5
December 2013, Week 4
December 2013, Week 3
December 2013, Week 2
December 2013, Week 1
November 2013, Week 5
November 2013, Week 4
November 2013, Week 3
November 2013, Week 2
November 2013, Week 1
October 2013, Week 5
October 2013, Week 4
October 2013, Week 3
October 2013, Week 2
October 2013, Week 1
September 2013, Week 5
September 2013, Week 4
September 2013, Week 3
September 2013, Week 2
September 2013, Week 1
August 2013, Week 5
August 2013, Week 4
August 2013, Week 3
August 2013, Week 2
August 2013, Week 1
July 2013, Week 5
July 2013, Week 4
July 2013, Week 3
July 2013, Week 2
July 2013, Week 1
June 2013, Week 5
June 2013, Week 4
June 2013, Week 3
June 2013, Week 2
June 2013, Week 1
May 2013, Week 5
May 2013, Week 4
May 2013, Week 3
May 2013, Week 2
May 2013, Week 1
April 2013, Week 5
April 2013, Week 4
April 2013, Week 3
April 2013, Week 2
April 2013, Week 1
March 2013, Week 5
March 2013, Week 4
March 2013, Week 3
March 2013, Week 2
March 2013, Week 1
February 2013, Week 4
February 2013, Week 3
February 2013, Week 2
February 2013, Week 1
January 2013, Week 5
January 2013, Week 4
January 2013, Week 3
January 2013, Week 2
January 2013, Week 1
December 2012, Week 5
December 2012, Week 4
December 2012, Week 3
December 2012, Week 2
December 2012, Week 1
November 2012, Week 5
November 2012, Week 4
November 2012, Week 3
November 2012, Week 2
November 2012, Week 1
October 2012, Week 5
October 2012, Week 4
October 2012, Week 3
October 2012, Week 2
October 2012, Week 1
September 2012, Week 5
September 2012, Week 4
September 2012, Week 3
September 2012, Week 2
September 2012, Week 1
August 2012, Week 5
August 2012, Week 4
August 2012, Week 3
August 2012, Week 2
August 2012, Week 1
July 2012, Week 5
July 2012, Week 4
July 2012, Week 3
July 2012, Week 2
July 2012, Week 1
June 2012, Week 5
June 2012, Week 4
June 2012, Week 3
June 2012, Week 2
June 2012, Week 1
May 2012, Week 5
May 2012, Week 4
May 2012, Week 3
May 2012, Week 2
May 2012, Week 1
April 2012, Week 5
April 2012, Week 4
April 2012, Week 3
April 2012, Week 2
April 2012, Week 1
March 2012, Week 5
March 2012, Week 4
March 2012, Week 3
March 2012, Week 2
March 2012, Week 1
February 2012, Week 5
February 2012, Week 4
February 2012, Week 3
February 2012, Week 2
February 2012, Week 1
January 2012, Week 5
January 2012, Week 4
January 2012, Week 3
January 2012, Week 2
January 2012, Week 1
December 2011, Week 5
December 2011, Week 4
December 2011, Week 3
December 2011, Week 2
December 2011, Week 1
November 2011, Week 5
November 2011, Week 4
November 2011, Week 3
November 2011, Week 2
November 2011, Week 1
October 2011, Week 5
October 2011, Week 4
October 2011, Week 3
October 2011, Week 2
October 2011, Week 1
September 2011, Week 5
September 2011, Week 4
September 2011, Week 3
September 2011, Week 2
September 2011, Week 1
August 2011, Week 5
August 2011, Week 4
August 2011, Week 3
August 2011, Week 2
August 2011, Week 1
July 2011, Week 5
July 2011, Week 4
July 2011, Week 3
July 2011, Week 2
July 2011, Week 1
June 2011, Week 5
June 2011, Week 4
June 2011, Week 3
June 2011, Week 2
June 2011, Week 1
May 2011, Week 5
May 2011, Week 4
May 2011, Week 3
May 2011, Week 2
May 2011, Week 1
April 2011, Week 5
April 2011, Week 4
April 2011, Week 3
April 2011, Week 2
April 2011, Week 1
March 2011, Week 5
March 2011, Week 4
March 2011, Week 3
March 2011, Week 2
March 2011, Week 1
February 2011, Week 4
February 2011, Week 3
February 2011, Week 2
February 2011, Week 1
January 2011, Week 5
January 2011, Week 4
January 2011, Week 3
January 2011, Week 2
January 2011, Week 1
December 2010, Week 5
December 2010, Week 4
December 2010, Week 3
December 2010, Week 2
December 2010, Week 1
November 2010, Week 5
November 2010, Week 4
November 2010, Week 3
November 2010, Week 2
November 2010, Week 1
October 2010, Week 5
October 2010, Week 4
October 2010, Week 3
October 2010, Week 2
October 2010, Week 1
September 2010, Week 5
September 2010, Week 4
September 2010, Week 3
September 2010, Week 2
September 2010, Week 1
August 2010, Week 5
August 2010, Week 4
August 2010, Week 3
August 2010, Week 2
August 2010, Week 1
July 2010, Week 5
July 2010, Week 4
July 2010, Week 3
July 2010, Week 2
July 2010, Week 1

ATOM RSS1 RSS2



LISTS.PORTSIDE.ORG

CataList Email List Search Powered by the LISTSERV Email List Manager