DOMINICAN REPUBLIC

DOMINICAN REPUBLIC - Report 06 Aug 2019

President Danilo Medina announced that he’d given up all efforts to run for a third consecutive term. Though he said his decision was motivated by his respect for the rules of the game, he in truth threw in the towel because he couldn’t achieve his goal. And he hasn’t permanently given up. Now...

DOMINICAN REPUBLIC - In Brief 23 Jul 2019

The Central Bank has just published the official figures for the number of tourist arrivals for the month of June. There is much fear that the negative information that has circulated in the international press about the Dominican Republic as a tourist destination as a result of unfortunate and u...

DOMINICAN REPUBLIC - In Brief 22 Jul 2019 1 response

In a speech to the Nation, President Danilo Medina announced that he will not seek re-election. Therefore, there won't be any attempt to amend the Constitution. In our reading, although he did not recognize it, the President surrendered to the circumstances and accepted that he had no chance of a...

DOMINICAN REPUBLIC - In Brief 22 Jul 2019

This is a crucial week in DR politics and the prospects for re-election are looking very bleak. It seems increasingly difficult to achieve it, and Medina is left with few alternatives. These are the facts: 1. The Medina group has not managed, so far, to get the votes it needs to pass a constituti...

DOMINICAN REPUBLIC - Report 03 Jul 2019

The ruling PLD’s political crisis is so severe that the party is on the brink of a split, a situation affecting the whole country. The conflict stems former President Leonel Fernández’s pursuit of the presidential nomination, while President Danilo Medina wants, at any cost, to prevent him from w...

DOMINICAN REPUBLIC - In Brief 28 Jun 2019

A new scandal has shaken the country. As a result of an investigation that lasted months on behalf of a network of journalists, international media revealed that Odebrecht paid bribes for almost USD 40 million to be favored with the award of the contract for almost USD 2 bn for the construction o...

DOMINICAN REPUBLIC - Forecast 04 Jun 2019

Growth remained strong in Q1, with the IMAE estimating GDP growth at 5.7%, compared with Q1 2018. Inflation accelerated in March and April, by 0.65% and 0.53%, respectively. But at the close of Q1, accumulated 2019 inflation since January reached 0.86% q/q, and was up 1.47% y/y. These figures are...

DOMINICAN REPUBLIC - In Brief 01 Jun 2019

As most of you probably know, and as we predicted in our last report, this week the Ministry of Finance allocated bonds in the international market for a total amount equivalent to USD 2.5 bn. The amount is USD 250 million above the indicative amount authorized by the 2019 budget law. That means ...

DOMINICAN REPUBLIC - In Brief 19 May 2019

The re-election machinery is underway Although, as has been discussed in recent reports and briefs, a formal proposal to amend the Constitution allowing President Medina to opt for a third term has not been sent to Congress, the political machinery that promotes re-election is in full swing. Many...