• In 2018, collections for the tax on carbon dioxide (CO2) emissions amounted to RD $710.8Mn, an amount that represented a growth of 5.3% compared to the same period of the previous year, according to the records of the Directorate General of Internal Taxes (DGII).
• This is mainly due to the increase in the vehicle fleet in the country, but it also means that high consumption and high emission vehicles have been imported.
• The proceeds will be used to create a fund for mitigation and adaptation to climate change the purpose for which it was initially proposed.

(Source: Dominican Today)

• Noting that T&T has the largest fiscal deficit in Central America and the Caribbean, a group of World Bank economists is expecting the T&T economy to contract this year by -0.5 percent. 
• T&T is one of only four countries that the World Bank estimates this year will have weaker economies by the end of 2019.
• The other three are Venezuela, Nicaragua, and Argentina. The economists also found T&T has the highest fiscal deficit as a percentage of gross domestic product (GDP) in Central America and the Caribbean.

 (Source: Trinidad Express)

• European Central Bank officials reiterated their pledge to keep interest rates at record lows, giving themselves time to assess prospects for the euro area’s weakened economy as it confronts new risks.
• Five weeks after presenting a new long-term lending program, the ECB held off announcing more details in its policy statement on Wednesday.
• Uncertainties from global trade continue to cloud the region’s outlook, and the Governing Council may wait until June before deciding on how much stimulus will be needed.
• The ECB’s deposit rate, main refinancing rate and marginal lending rate will remain unchanged at -0.4%, 0% and 0.25%, respectively.

(Source: Bloomberg)

• Asset growth and lending will slow in Mexico's banking sector over the coming quarters, in line with weaker investor sentiment that will drive a general economic slowdown. 
• Investor sentiment is weakening under the administration of leftist populist President Andrés Manuel López Obrador (AMLO), sapping credit demand, especially for commercial loans. 
• Fitch forecast total asset growth to slow to 5.0% y-o-y in 2019, from 6.0% in 2018, with client loan growth decelerating to 7.0%, from 9.3%. 

(Source: Fitch)

• Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says there is a need for greater levels of local investments, in order to sustain Jamaica’s economic growth.
• “We have had a lot of foreign investment. But I don’t think domestic investment has yet been unleashed in the way that it can and ultimately will,” he said.
• He highlighted that the Government has been working to restore economic stability through the implementation of policies that “encourage and incentivize greater levels of domestic and foreign investment”.
• The Minister was speaking at the Destination Experience Masters of Industry Reception, which was held at the Mercedes Benz showroom on South Camp Road in Kingston on April 5.

(Source: JIS)

• For the year ended February 28, 2019, AMG Packaging & Paper Limited reported an unaudited net profit of $23.2Mn (EPS: $0.01) which represents a 12.4% decrease relative to the corresponding period of 2018.
• Revenue for the period was $387.8Mn which represents a 12.8% increase relative to the $343.7Mn.
• The lower profit was partly attributable to increased manufacturing costs which moved (+17.2%)  to $306.3Mn.
• Paper prices have begun to stabilize on the world market, however, due to huge increases in paper costs in 2018, and the inability to pass on these increases to customers, the company’s bottom line continues to be negatively affected.
• The stock has risen 21.05% since the start of the calendar year. AMG’s stock closed at $2.30 yesterday and currently trades at a P/E of 17.7x earnings which is above the Junior Market Manufacturing Sector average of 17.6x.

(Source: AMG Financials)

• The government of Barbados recently paid out BDS$41 million to pensioners 60 years and over under the domestic debt restructuring programme.
• This disclosure has come from Minister in the Ministry of Finance, Ryan Straughn, who said $7 million of that amount was interest. He explained that the pensioners each received a cash payment of up to $30,000.
• “This recent payment has delivered financial relief to 377 pensioners who were fully paid out in March 2019, while an additional 1,123 received $30,000,” he stated.
• Straughn added that pensioners with $200,000 or less would receive 42 equal payments of the principal from April 30, 2019, and those with over $250,000 would be paid over the remaining 11 years.

 (Source: GIS Barbados)

• The Dominican Republic’s maritime connectivity has increased with the arrival of new freight service in containers at short distances by sea, to and from Florida.
• According to Economic Complexity Observatory (OEC) figures the US accounts for most of Dominican Republic’s imports with US$7.02 billion, and the main destination for its exports, at US$3.64 billion.
• The new service, with arrival in Caucedo port on Wednesdays, improves the frequency and scope of maritime services in the country with its main commercial partner, through the port DP World Caucedo.
• “The frequency and scope of maritime services are key to increasing our country’s competitiveness as a regional logistics platform, and the attractiveness of our export products,”  said DP World Caucedo commercial director Ramón Badia. 

(Source: Dominican Today)

• The International Monetary Fund cut its outlook for global growth to the lowest since the financial crisis amid a bleaker outlook in most major advanced economies and signs that higher tariffs are weighing on trade.
• The world economy will grow 3.3 percent this year, down from the 3.5 percent the IMF had forecast for 2019 in January, the fund said Tuesday in its latest World Economic Outlook.
• The 2019 growth rate would be the weakest since 2009 when the world economy shrank. It’s the third time the IMF has downgraded its outlook in six months.

 (Source: Bloomberg)

• U.S President Donald Trump said today that the USA would impose tariffs on $11Bn of products from the European Union, a day after U.S. trade officials proposed a list of EU products to target as part of an on-going aircraft dispute.
• “The World Trade Organization finds that the European Union subsidies to Airbus have adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products! The EU has taken advantage of the U.S. on trade for many years. It will soon stop!” Trump said in a post on Twitter.
• The two sides have been locked in a years-long global trade dispute over mutual claims of illegal aid to plane giants, Netherlands-based Airbus and U.S.-based Boeing, to gain advantage in the world jet business.
• The U.S. Trade Representative on Monday announced the planned products targeted in retaliation for European aircraft subsidies, with a final list expected this summer.

(Source: Reuters)