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Events
Databanks
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Argentina databank Mar 28
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Brazil Economics databank Apr 17
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Central America databank Apr 2
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Chile databank Apr 4
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China databank Mar 21
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Colombia databank Apr 3
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Dominican Republic databank Apr 15
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Ecuador databank Apr 22
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Gulf Countries databank Apr 19
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Hungary databank Apr 18
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India databank Apr 22
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Mexico databank Mar 28
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Panama databank Feb 2
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Peru databank Mar 27
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Philippines databank Apr 8
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Russia Economics databank Apr 11
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South Africa databank Apr 8
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Turkey databank Mar 6
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Ukraine databank Feb 12
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Uruguay databank Mar 27
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Venezuela databank Apr 3
NEWS FLASH
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COUNTRY INSIGHTS
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...
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.