GlobalSource Partners | Country Insights | Dominican Republic

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,...

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...

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...

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 ...

Central Bank announced a pause in the monetary policy rate reduction path

DOMINICAN REPUBLIC · In Brief · 01 Aug 2023 · 1 response

Yesterday, the Central Bank decided to maintain the monetary policy interest rate (TPM) at 7.75% per year. Both the permanent liquidity expansion facility rate (8.25% annually) and the interest-bearing deposit rate (6.75% annually) remain unchanged. The uncertainty in the international environmen...

Inflation falls into target range, but pressure to boost growth is rising

DOMINICAN REPUBLIC · Report · 19 Jul 2023 · 1 response

The positive news is that, after 32 months above the 4 ± 1% y/y target range, inflation fell into range in May, and in June stood at the 4% y/y midpoint. But the negative news is the weak January-May economic growth, of just 1.4% y/y. These two reports together led to monetary policy easing. J...

A further reduction in the monetary policy rate.

DOMINICAN REPUBLIC · In Brief · 29 Jun 2023

Today, the Central Bank of the Dominican Republic (BCRD) reduced its monetary policy interest rate by 25 basis points, from 8.00% to 7.75% per year. The rate of the permanent liquidity expansion facility (1-day Repos) was also reduced by the same magnitude, going from 8.50% to 8.25% per year, as ...

Central Bank cuts rates as inflation falls into target range, and growth slows

DOMINICAN REPUBLIC · Report · 12 Jun 2023

May offered many surprises. Monthly inflation was negative (-0.2%), which allowed interannual inflation, at 4.43%, to fall into the target range of 4 ± 1% per year. But the cost has been high: economic activity growth was just 1.2% y/y in January-April. The Central Bank's response was immediat...