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The DR Central Bank reduces its monetary policy rate by 25 basis points
DOMINICAN REPUBLIC · In Brief · 29 Aug 2024

Today, the Central Bank of the Dominican Republic (BCRD) decided to reduce its monetary policy interest rate (MPR) by 25 basis points, decreasing from 7.00% to 6.75% annually. Likewise, the rate of the permanent liquidity expansion facility (1-day Repos) goes from 7.50% to 7.25% annually, while t...

President Abinader announces a broad reform agenda, as he’s sworn in for his second term
DOMINICAN REPUBLIC · Report · 19 Aug 2024

During his August 16th swearing in ceremony for his second term, President Luis Abinader promised to implement a broad agenda of economic, social and political reforms that would make the Dominican Republic a developed country, with a strong democracy and a fair economy that would solve people's ...

Central Bank keeps monetary policy interest rate unchanged
DOMINICAN REPUBLIC · In Brief · 01 Aug 2024

The monetary policy interest rate will remain unchanged for the ninth consecutive month, according to the decision taken yesterday by the Central Bank. In August 2024, the monetary policy interest rate will be 7% per year, while the permanent liquidity expansion facility rate (1-day Repos) and th...

Congress approves the Fiscal Responsibility Law
DOMINICAN REPUBLIC · In Brief · 25 Jul 2024

Today, the National Congress approved the Fiscal Responsibility Law. The purpose of the law is to guarantee that by 2035 the general government debt ratio stands at 40% of GDP. To this end, a limit is established on the annual growth of primary spending so that it does not exceed the growth of an...

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...

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