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COUNTRY INSIGHTS

Three glorious quarters
DOMINICAN REPUBLIC · Forecast · 07 Nov 2018

Economic activity grew 7.3% in Q3, from Q3 2017, and cumulative 2018 growth to September was 6.9%. These are extraordinary figures that surprised even the most optimistic observers. Inflation remained very low in September, up 0.08% from August, while accumulated January-September inflation was 1...

Growth is hectic
DOMINICAN REPUBLIC · Report · 02 Oct 2018

Economic expansion continues to be powerful. GDP growth January-July was up 6.7% from the same period last year, with all activities registering relatively high growth rates. Monetary policy also continues stable. The restricted monetary base December-August was down 5.41%; the broad monetar...

The race towards 2020 elections already started; Fernández pulled ahead
DOMINICAN REPUBLIC · Report · 30 Aug 2018

Although others had formally launched their pre-campaign activities aimed at getting the PLD nomination for the presidency, the rally staged by former President Leonel Fernández to inaugurate his pre-campaign was the one that marked the beginning of the race to the 2020 presidential election. He ...

Habemus law on political parties, at the speed of light
DOMINICAN REPUBLIC · In Brief · 13 Aug 2018

As expected, in a matter of hours, the Senate voted for the bill on political parties approved the previous day by the Chamber of Representatives. Today, President Medina signed the bill. In our next monthly report, we will provide an account of the law, as well as an analysis of winners and lose...

Political parties law: Medina gets half of a victory
DOMINICAN REPUBLIC · In Brief · 09 Aug 2018

Tuesday night, the Chamber of Representatives voted positively for a law of parties that allows parties to choose the procedure to elect nominees for President and Vicepresident, members of Congress and local authorities. The bill was supported by danilistas and allied parties, and PRM representa...

H1 marked by very strong growth
DOMINICAN REPUBLIC · Forecast · 07 Aug 2018

Preliminary data from the Central Bank indicates that in H1 2018 economic activity expanded by 6.7% year over year. In Q1, GDP growth measured by the Monthly Indicator of Economic Activity (IMAE) was 5.4%, and in Q2 it was 7.1%, an extraordinary and surprising expansion. More modest growth had be...

Issuance of Global Bonds for USD 1.3 bn reveals a drastic change in financing strategy
DOMINICAN REPUBLIC · In Brief · 17 Jul 2018 · 1 response

Last week the Dominican Republic placed bonds with 10 years to maturity in the international market for USD 1.3 bn at 6%. It was a surprise because that issuance put the total amount placed in the year at USD 3.122 bn, USD 1.022 bn above the indicative ceiling set forth in the budget law of 2018 ...

Political party law remains deadlocked
DOMINICAN REPUBLIC · Report · 05 Jul 2018

Data available through May indicates that growth has been higher than expected, even compared to optimistic official forecasts. In May, real GDP growth (measured by the IMAE) reached 6.4% compared to May 2017, and between January and May, growth reached 6.6%. Construction stands out among economi...

Senator Bautista, close ally of Leonel Fernandez, sanctioned by the US Treasury on corruption
DOMINICAN REPUBLIC · In Brief · 14 Jun 2018

Early this week, under the so-called Magnistky Law, the US State Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Senator Felix Bautista, a close ally of former President Leonel Fernandez, for engaging in corrupt acts, including in relation to reconstruction efforts...

​Odebrecht case update: a bigger than expected deceive
DOMINICAN REPUBLIC · In Brief · 10 Jun 2018

A year and a half after investigations into the million-dollar bribes of Odebrecht in the Dominican Republic was launched, the Attorney General's Office filed formal accusations. Few expected an impartial and fair investigation because the Attorney General is a political subordinate of President ...

Medina faces his first big political defeat
DOMINICAN REPUBLIC · Report · 04 Jun 2018

President Danilo Medina is about to receive his first major political defeat. The effort to pass the bill on political parties most favorable to him (with open and simultaneous primaries) is failing. Medina could not get enough votes to pass the bill in the House. Nearly all the opposition, and t...

A battle for electoral control
DOMINICAN REPUBLIC · Forecast · 04 May 2018

The Dominican Republic and China have announced the establishment of formal diplomatic relations. This implies that the DR recognizes only one China, with Taiwan a part of it. The deal has led to the rupture of the DR’s 77-year diplomatic relationship with Taiwan. But investment opportunities tha...

China and the Dominican Republic establish formal diplomatic relations
DOMINICAN REPUBLIC · In Brief · 02 May 2018

Last Sunday, the Dominican Republic and the People's Republic of China announced the establishment of formal diplomatic relations. This implies the recognition of the Dominican Republic that there is only one China and that Taiwan is an inalienable part of its territory. For this reason, the rupt...

A changing political landscape
DOMINICAN REPUBLIC · Report · 29 Mar 2018

The political landscape is changing: the opposition seems to be strengthening, internal struggles have paralyzed the PLD, President Medina’s approval ratings, while still high, have been declining, and the odds of his third nomination (banned by the Constitution) have weakened in recent months. H...

Confirmed: NFPS deficit reached 3.2% of GDP, 0.9% off-target
DOMINICAN REPUBLIC · In Brief · 12 Mar 2018

The Central Bank and the budget office have finally published, and almost simultaneously, the figures of the budget result for 2017. The Central Bank published figures for the Central Government, for the decentralized and autonomous institutions, for the Non-Financial Public Sector (NFPS) and for...

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