NEWS FLASH

UPCOMING WEBINAR - CAUCASUS AND CENTRAL ASIA: POLITICAL PASSIONS IN THE...

IMF concludes Article IV review for 2024
DOMINICAN REPUBLIC · In Brief · 24 Jul 2024

The IMF technical team, upon concluding the Article IV review for 2024, recognized that the history of solid policies and firm institutional frameworks have allowed the Dominican Republic to exhibit robust and resilient economic growth with low inflation over the past two decades. The IMF suggest...

Plunge in liquidity growth and weaker growth prospects for 2024
DOMINICAN REPUBLIC · Forecast · 17 Jul 2024 · 1 response

Economic activity in May 2024 grew at 4.3% y/y, and although the cumulative expansion in January-May 2024 (4.9% y/y) remained close to the potential growth rate of 5%, questions remain about whether this pace of growth can be maintained, if the plunge in the economy's liquidity seen in June 2024 ...

Dominican Republic issues inaugural green bond
DOMINICAN REPUBLIC · In Brief · 26 Jun 2024

The Dominican Republic (DR) has successfully launched its inaugural green bond issuance, raising USD 750 million at an annual rate of 6.7%. This rate is 15 basis points lower than what would have been achieved through conventional non-thematic instruments. The proceeds from this issuance will fun...

Government with near-absolute power embraces reform
DOMINICAN REPUBLIC · Report · 14 Jun 2024

President Luis Abinader in the May 19th elections not only managed to win reelection with 57.5% of the vote, but his PRM party also achieved the necessary control in Congress to pass pending economic reforms, without the need to negotiate with the opposition -- including majority for a constitu...

President Abinader re-elected in the first round.
DOMINICAN REPUBLIC · In Brief · 20 May 2024

With 59.05% of the votes counted in his favor and the recognition of his victory by his adversaries Abel Martinez and Leonel Fernández, President Luis Abinader has been reelected in the first round. So far, only 44% of the votes have been counted. The total vote obtained so far by Leonel Fernánde...

Abinader’s first-round reelection prospects strengthen
DOMINICAN REPUBLIC · Report · 17 May 2024

The latest polls in the runup to the May 19th national elections indicate that President Luis Abinader will be reelected in the first round, with at least 60% of voters polled saying they planned to vote for him. After the overwhelming victory of the official PRM party in the February 18th munic...

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. In May 2024, the monetary policy interest rate will remain 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...