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Events
Databanks
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Argentina databank Jul 2 -
Brazil Economics databank Jun 16
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Poland databank Apr 29
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NEWS FLASH
UPCOMING WEBINAR - CAUCASUS AND CENTRAL ASIA: POLITICAL PASSIONS IN THE...
COUNTRY INSIGHTS
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...
Proposed 2024 budget includes more interest payments, and less investment
DOMINICAN REPUBLIC · Forecast · 23 Oct 2023
A first look at the proposed 2024 budget does not seem to show substantial changes from the budgets adopted since 2021, with a deficit target of 3.1% of GDP. But with an expected reduction in the tax burden for 2024, to 15% from 15.8%, fiscal space to address higher debt interest payments (3.6% o...
The monetary policy interest rate remains at 7.50% annually
DOMINICAN REPUBLIC · In Brief · 02 Oct 2023
On September 29, 2023, the Central Bank decided to keep the monetary policy interest rate unchanged: 7.50% annually. The permanent liquidity expansion facility rate and the interest-bearing deposit rate also remain unchanged at 8.0% and 6.25% annually, respectively.
Economy grows slowly, as campaigning heats up
DOMINICAN REPUBLIC · Report · 21 Sep 2023
The Dominican economy grew 2.9% y/y in July, its most robust growth rate so far this year. But growth for January-July 2023, at 1.4% y/y, dispelled any doubts that 2023 would be a lean year. Since 2007, annual growth rates below 1.4% January-July have only occurred during the great recession of 2...
The diplomatic crisis between the Dominican Republic and Haiti persists.
DOMINICAN REPUBLIC · In Brief · 19 Sep 2023
It has now been one week since the onset of the diplomatic conflict between the Dominican Republic and Haiti. On Monday, September 11, 2023, the Dominican Government made the decision to close the land border with Haiti at the Dajabón pass. They formally requested the Government of Haiti to halt ...
The Dominican Government announces expiration of offer to purchase and issues USD 1.25 b bond.
DOMINICAN REPUBLIC · In Brief · 12 Sep 2023
Last Sep 5, 2023, the Dominican Government opened the purchase offer for bonds USP3579ECD78/P3579E CD7 (Reg S) and US25714PEA21/25714P EA2 (144A). These bonds were originally issued for DOP 68,023,000,000 at an annual interest rate of 9.75% and are set to mature in June 2026. Today, the Governmen...
The Central Bank reduces the monetary policy rate by 25 basis points
DOMINICAN REPUBLIC · In Brief · 01 Sep 2023
Yesterday the Central Bank decided to reduce the monetary policy rate from 7.75% per year to 7.50% per year. The rate of the permanent liquidity expansion facility was also reduced by 25 basis points, going from 8.25% per year to 8.00% per year. However, the Central Bank opted for a greater reduc...
Agreement reached to create an opposition alliance for 2024 elections
DOMINICAN REPUBLIC · In Brief · 21 Aug 2023
Today the three main opposition parties of the Dominican Republic, PLD, FP and PRD, announced the creation of the opposition alliance Rescate RD (DR Rescue) to present common candidacies in the next 2024 elections. The agreement proposes 4 common candidacies to positions in the Senate of the Repu...
President Abinader announces re-election aspirations, amid flagging economic growth
DOMINICAN REPUBLIC · Report · 16 Aug 2023
President Luis Abinader has just announced that he will seek a second term. Though he’ll have to formally seek his PRM’s nomination in this October’s primaries, there’s no doubt that the popular president will win his party’s backing. He justified his decision to run for reelection in May 2024 on...
Public budget amendment bill will increase the deficit for 2023
DOMINICAN REPUBLIC · In Brief · 02 Aug 2023
Yesterday, the Government sent to the National Congress a public budget amendment bill for 2023. According to the Ministry of Finance, the “modifications in the Budget respond to the slowdown in economic growth, which has accentuated in 2023, attributed to various factors such as the decrease in ...