TCRLA_Public/191231.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R

                 L A T I N   A M E R I C A

          Tuesday, December 31, 2019, Vol. 20, No. 1



BRAZIL: To Modernize Fiscal Mgmt. in Parana with $50MM-IDB Support

D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Consumer Confidence is Positive


PERU: Gets $50MM-IDB Loan to Boost Competitiveness

P U E R T O   R I C O

CDT DE SAN SEBASTIAN: Seeks to Hire Jose R. Cintron as Counsel
EM POLICIA: Seeks Extension for Plan & Disclosure Filing

T R I N I D A D   A N D   T O B A G O

TRINIDAD & TOBAGO: Slow Christmas Sales in Sando


LATAM: Growth Rate Projected to Remain at 1.4%

                           - - - - -


BRAZIL: To Modernize Fiscal Mgmt. in Parana with $50MM-IDB Support
Brazil will contribute to the fiscal management of the State of
Parana through its modernization, the improvement of the tax
administration and the control of public spending with a $50
million loan approved by the Inter-American Development Bank

The program aims to improve management instruments, modernize the
technological infrastructure and increase the transparency of
fiscal management with society, enhancing the institutional
performance of the State Secretariat of Finance of the State of
ParanĂ¡ (SEFA/PR), the Attorney General's Office of the State of
ParanĂ¡ (PGE/PR) and the Secretary of Planning of the State of
ParanĂ¡ (SEPL/PR).

It seeks to increase the efficiency of tax collection, as well as
income, simplify tax compliance through financing and create a
system of managing tax benefits. The program will include a "Single
Cadastre" system of the taxpayers of the SEFA/PR with the
integration of the data on the Tax on the Movement of Goods and
Services, and the Tax on Property of Motor Vehicles and rural
producers and REDESIM companies , among others.

Likewise, it will contribute to the financial administration in its
fiscal discipline and to increase the efficiency and effectiveness
of public spending through better management of public service
costs, public debt and results-oriented budget planning. The
integration with the accounting system of the Mobile Heritage
Management System and the Real Estate Management System will also
be established.

The beneficiaries will be the citizens, businesses and taxpayers
and entities of the public and non-governmental sector, who will
obtain a better provision of services, facilities and lower costs
for tax compliance, and greater availability of information and
data for public management and the transparency of the public
accounts achieving greater fiscal sustainability of the State.

The IDB loan of $50 million has a repayment term of 25 years, a
grace period of five and a half years, an interest rate based on
LIBOR, and has a local counterpart of $5 million.

As reported in the Troubled Company Reporter-Latin America on Nov.
18, 2019, Fitch Ratings affirmed Brazil's Long-Term Foreign
Currency Issuer Default Rating at 'BB-'. The Rating Outlook is

D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Consumer Confidence is Positive
Dominican Today reports that the results of the twenty-fifth
Consumer Confidence Survey (ICC-RD) of the Ministry of Economy,
Planning, and Development (MEPYD), last October, show a positive
variation in the overall consumer confidence index of 1.3 points
compared to that observed in May 2019.

The Consumer Confidence Index of the Dominican Republic includes
the assessment of the current status and expectations of the
personal and country economic situation, according to Dominican

It is broken down into complementary indicators on prices, labor
market, savings, and consumption, considering the current situation
(current situation) and consumption expectations, the report

In the recent results of the improvement of the global index of
confidence of the Dominican consumer, with respect to the previous
survey, has contributed the greater confidence in the future
situation (7.7 points), which even surpasses the barrier of the 100
points for the first time since May 2015, the report relays.

There was an increase in global consumer confidence in price
stability (9.7 points) and followed, in order of importance, the
variation in confidence in consumer capacity (6.8), in
opportunities of the labor market (6.6) and, finally, confidence in
saving capacity (3.7). By geographical area, the greatest
variations were experienced in the tourist area, the report adds.

                 About Dominican Republic

The Dominican Republic is a Caribbean nation that shares the island
of Hispaniola with Haiti to the west. Capital city Santo Domingo
has Spanish landmarks like the Gothic Catedral Primada de America
dating back 5 centuries in its Zona Colonial district.

The Troubled Company Reporter-Latin America reported on April 4,
2019 that the Dominican Today related that Juan Del Rosario of the
UASD Economic Faculty cited a current economic slowdown for the
Dominican Republic and cautioned that if the trend continues,
growth would reach only 4% by 2023. Mr. Del Rosario said that if
that happens, "we'll face difficulties in meeting international

An ongoing concern in the Dominican Republic is the inability of
participants in the electricity sector to establish financial
viability for the system.

Standard & Poor's credit rating for Dominican Republic stands at
BB- with stable outlook (2015). Moody's credit rating for
Dominican Republic was last set at Ba3 with stable outlook (2017).
Fitch's credit rating for Dominican Republic was last reported at
BB- with stable outlook (2016).


PERU: Gets $50MM-IDB Loan to Boost Competitiveness
Peru boosts the productivity and competitiveness of its economy
through the strengthening of public institutions and actions to
improve regulatory quality and planning in favor of private
investment and innovation, with the support of a $50 million loan
approved by the Bank Inter-American Development (IDB).

The Productivity and Competitiveness Improvement Program is the
first of two operations under the IDB Program Reform Support
Program Loan modality. This type of loans grants financing once the
commitments of policies and actions assumed by the country have
been fulfilled. Through this instrument, the Government of Peru has
the Bank's technical support to achieve its short-term objectives,
as well as the accompaniment to the medium-term agenda for the
improvement of productivity and competitiveness in key productive

Under the Program, since 2018 the Government of Peru has developed,
agreed and approved the National Competitiveness and Productivity
Policy, strengthening the National Competitiveness and
Formalization Council and the public-private and public-public
coordination bodies of the Ministry of Economy and Finance (MEF) in
new sectors with high competitive potential, such as forestry.

Likewise, this Program recognizes the actions carried out by Peru
to improve the sectorial, transversal and planning regulatory
quality to accelerate investment in key productive sectors, through
the work carried out by the executive tables, the promotion of free
competition, and the prioritization and articulation of public
investment in a set of infrastructure projects necessary for a
first closing of gaps by 2025, incorporating a sectoral and
territorial perspective.

Finally, the Program also includes the recognition of innovation
support policy commitments through the improvement in the
governance of the national innovation system, the extension of the
scope of public policies to support innovation through, for
example, from improvements in the tax benefit to research and
technological innovation expenses, and facilitation actions to
access the protection of intellectual property rights, benefiting
small and medium enterprises and innovative entrepreneurs.

P U E R T O   R I C O

CDT DE SAN SEBASTIAN: Seeks to Hire Jose R. Cintron as Counsel
CDT De San Sebastian Inc., seeks authority from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ the Law Office of
Jose R. Cintron, as counsel to the Debtor.

CDT San Sebastian requires Jose R. Cintron to:

   a. prepare all Court documents;

   b. appear at the 341 meeting of creditors and other Court

   c. assisit in accounting, tax & financial analyses;

   d. assist in the preparation of a Plan & Disclosure Statement;

   e. assist in the preparation and litigation of adversary
      proceedings, objections to claims, among other things.

Jose R. Cintron will be paid at the hourly rate of $150.

Jose R. Cintron will be paid a retainer in the amount of $5,000.

Jose R. Cintron will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Jose R. Cintron, partner of the Law Office of Jose R. Cintron,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estates.

Jose R. Cintron can be reached at:

     Jose R. Cintron, Esq.
     Calle Condado 605, Suite 602
     Santurce, Puerto Rico 00907
     Tel: (787) 725-4027
     Fax: (787) 725-1709

                 About CDT De San Sebastian Inc.

CDT De San Sebastian Inc. is a tax-exempt entity that operates an
outpatient care center in San Sebastian, Puerto Rico.

CDT De San Sebastian sought Chapter 11 protection (Bankr. D.P.R.
Case No. 19-06636) on Nov. 13, 2019. The Debtor was estimated to
have $1 million to $10 million in assets and liabilities.  The Hon.
Brian K. Tester is the case judge.  Jose Ramon Cintron, Esq., in
San Juan, Puerto Rico, is the Debtor's counsel.

EM POLICIA: Seeks Extension for Plan & Disclosure Filing
EM Policia Privada, Inc., asked the Court to extend by 60 days its
Dec. 5, 2019 deadline to file a Plan and Disclosure Statement.

A Request for Extension of Time to File Disclosure Statement and
Plan was filed due to specific situations that must be dealt with
regarding proof of claim #3 filed by the Internal Revenue Service
(IRS) and proof of claim #4 filed by the Puerto Rico Department of
Treasury (Treasury).

As indicated in the first request for extension of time, appointed
CPA, Luis Cruz, visited the Department of Treasury in order to
discuss the situation and clarify the amounts due in two

At the last visit on Nov. 15, 2019, additional forms and documents
were requested and as of this date Debtor still does not know how
much the amounts claimed will be.  The alternative of filing an
objection to proof of claim #4 may still be considered if the
amounts are not determined by Treasury.

The Debtor is represented by:

       P.O. Box 3389
       Guaynabo, Puerto Rico 00970
       Tel: (787)721-3437 (787)724-2480

              About EM Policia Privada, Inc.

Based in Bayamon, Puerto Rico, EM Policia Privada, Inc. filed a
petition under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R.
Case No. 19-02293) on April 26, 2019, listing under $1 million in
both assets and liabilities.  The Debtor is represented by
NildaGonzalez-Cordero Law Offices.

T R I N I D A D   A N D   T O B A G O

TRINIDAD & TOBAGO: Slow Christmas Sales in Sando
Khamarie Rodriguez at Trinidad Express reports that this year's
holiday shopping season has been especially rough on the business
community in South Trinidad, particularly in San Fernando.

This according to president of the Greater San Fernando Chamber of
Commerce, Kiran Singh, the report notes.
Chamber head blames refinery closure, $100 note exchange, the
report adds.


LATAM: Growth Rate Projected to Remain at 1.4%
RJR News reports that the United Nations Economic Commission for
Latin America and the Caribbean predicts that this year's economic
growth in the Caribbean will remain unchanged at 1.4 per cent.

The Commission said this is a result of the impact of fiscal
austerity measures and a wider lack of investor confidence,
according to RJR News.

Goods-producing economies are seeing a slight uptick from 0.8% in
2018 to 1.2% this year while service economies declined marginally
to 1.7%, from 1.8% in 2018, the report notes.

The three fastest growing economies for 2019 are Dominica,
Anguilla, and Antigua & Barbuda, the report says.

The Commission noted that the rebuilding efforts of the
hurricane-affected islands assisted in their growth, the report


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.

Copyright 2019.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed to
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