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Webinar Replay: Panama and Dominican Republic Elections Outlook
DOMINICAN REPUBLIC · Report · 03 May 2024

How will Panama and the Dominican Republic's 2024 elections play out, both in terms of their presidencies and the composition of their legislating bodies? Visit our calendar page to watch the replay of our webinar on Panama and the Dominican Republic's upcoming elections and how they will shape t...

The Central Bank maintains the monetary policy interest rate unchanged in May 2024
DOMINICAN REPUBLIC · In Brief · 01 May 2024

For the sixth consecutive month since Dec 2023, the monetary policy interest rate will remain unchanged. During May 2024, the monetary policy interest rate remains at 7.0% annually. Also, the permanent liquidity expansion facility rate (1-day Repos) and the interest-bearing deposit rate will rema...

On the road to normality? Growth nears potential and inflation is under control, but currency depreciation and interest rates are high
DOMINICAN REPUBLIC · Forecast · 16 Apr 2024

Q1 2024 ends with some signs that the Dominican economy is on its way to achieving trend values for key economic variables, such as growth and inflation. In January-February the average interannual growth of economic activity was 5.4%, close to potential growth, and inflation in Q1 was 3.33% y/y,...

Economic activity grew 6.2% y-y in Feb 2024
DOMINICAN REPUBLIC · In Brief · 26 Mar 2024

The Central Bank of the Dominican Republic announced that in Feb 2024 economic activity expanded by 6.2% y-y. Given the growth in Jan 2024 of 4.6% y-y, the accumulated year-on-year growth in Jan-Feb 2024 is 5.4%. The economic activities with the highest year-on-year growth in Feb 2024 were hotels...

Abinader marches confidently toward re-election, amid a weak and divided opposition
DOMINICAN REPUBLIC · Report · 18 Mar 2024

The new year got off to a good start, with economic activity growing 4.6% y/y in January, similar to the 4.7% y/y growth of December 2023. Inflation also performed well, declining for the second consecutive month, to 3.3% y/y in February. The monetary policy rate has remained unchanged since D...

The official PRM party sweeps the municipal elections
DOMINICAN REPUBLIC · In Brief · 20 Feb 2024

The big winner of the municipal elections, held on February 18, 2024, was the official party. The PRM won 121 of the 158 mayoralties, equivalent to 76.6% and 40 more mayoralties than those won in the last 2020 elections. The parties that made up the opposition alliance Rescate RD obtained 23 mayo...

January saw the second biggest monthly peso depreciation in 17 years
DOMINICAN REPUBLIC · Report · 16 Feb 2024

The peso depreciated by a powerful 2.36% in January. With the exception of July 2020, this was the highest monthly rate of depreciation since 2007. While there is a seasonal element, since January has frequently shown strong monthly exchange rate depreciation, there may also be factors associated...

No changes in the monetary policy rate in February 2024
DOMINICAN REPUBLIC · In Brief · 01 Feb 2024

Yesterday, the Central Bank of the Dominican Republic decided to maintain in the month of February 2024 the same level of the monetary policy rate in force since last December 2023, equivalent to 7% annually. Also, the interest rate on the permanent liquidity facility and the rate on paid deposit...

Economic landscape in 2024 should be more manageable, yet not without risks
DOMINICAN REPUBLIC · Forecast · 22 Jan 2024

The Dominican Republic experienced both commendable and less favorable outcomes in 2023. The inflation target was achieved in 2023 with a rate of 3.57%, less than half the rate of 2022. But GDP growth is estimated to have ended the year at around 2.3%, possibly the fourth-lowest growth rate since...

2024 will begin without changes in the monetary policy interest rate
DOMINICAN REPUBLIC · In Brief · 31 Dec 2023

The monetary policy interest rate will remain at 7.00% annually in the month of January 2024, while the rate of the permanent liquidity expansion facility (1-day Repos) will continue at 7.50% annually and the interest-bearing deposit rate (Overnight) will remain at 5.50% annually. The decision wa...

A slightly more optimistic year-end
DOMINICAN REPUBLIC · Report · 19 Dec 2023 · 1 response

As 2023 winds down, there’s good news in the macroeconomic sphere: inflation reached its target level of 4% y/y in October, and the economic activity growth rate strengthened, to 3.6% y/y, after hitting rock bottom last June, with a mere 0.1% y/y growth. The number of tourists arriving by air and...

Floods and deaths due to heavy rains in the Dominican Republic
DOMINICAN REPUBLIC · In Brief · 20 Nov 2023

At least 21 people have died as a result of heavy rains that have impacted the territory of the Dominican Republic since last Saturday, November 18, although the number could reach 30. In Santo Domingo, a historical record of 431 millimeters of rain in 24 hours was verified. Although there is not...

Economic activity accelerates in September
DOMINICAN REPUBLIC · Report · 20 Nov 2023

Economic activity growth in September exceeded 3% y/y, for the first time in 2023. But the Central Bank, aiming to ensure that months of reduced economic growth have been left behind, has further eased monetary policy. In October a new $0.7 billion quick liquidity facility was created, and on Oct...

Renegotiation of AERODOM contract to yield benefits surpassing 1.9 billion
DOMINICAN REPUBLIC · In Brief · 15 Nov 2023

President Luis Abinader announced yesterday the results of the renegotiation of the contract with the company AERODOM, which has been operating 6 public airports under concession since 1999. The renegotiation includes an initial payment or concession rights fee of USD 775 million to be paid in th...

The Central Bank reduces the monetary policy interest rate from 7.50% to 7.25% annually.
DOMINICAN REPUBLIC · In Brief · 02 Nov 2023

On October 31, 2023, the Central Bank of the Dominican Republic (BCRD) decided to reduce the monetary policy interest rate again by 25 basis points, decreasing from 7.50% to 7.25% annually. Also the rate of the permanent liquidity expansion facility (1-day Repos) is reduced from 8.00% to 7.75% an...

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