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COUNTRY INSIGHTS

The IMF is worried about the debt path and insists on fiscal adjustment
DOMINICAN REPUBLIC · Report · 05 Mar 2018

In January, the inflation rate reached 0.29% while accumulated inflation declined moderately, reaching 3.86%, slightly below the inflation target (4%) set in the Monetary Program. After months of loose monetary policy, the Central Bank´s position has become a little more restrictive. There is ...

2018 is looking like 2017
DOMINICAN REPUBLIC · Forecast · 06 Feb 2018

Thanks to significant economic recovery in Q4, real GDP growth in 2017 was 4.6%. Until September, economic activity was falling, and running at a cumulative 3.9%. In December, y/y inflation climbed to 4.2%, still within the 4.0% ± 1.0% target range. Inflation returned to normal levels, as the pos...

Slower growth and fiscal misalignment mark 2017
DOMINICAN REPUBLIC · Report · 10 Jan 2018 · 1 response

Deceleration of economic activity was the main feature of economic performance in 2017. Despite a robust rebound in November, and possibly in December, hopes that real GDP growth would end at 5% faded. Cumulative growth between January and November was 4.2%, and the expected rate for the year ran...

Extra Coal Plant Spending Likely to Push Deficit Over 3%
DOMINICAN REPUBLIC · Report · 05 Dec 2017

A new survey underscores the pessimistic domestic mood, and highlights crime and corruption as two big concerns. Some 74% of respondents called the economy bad or very bad; 75% predicted that toward the end of the Danilo Medina administration the economy would be the same or worse; and 52% called...

Corruption scandals hit political parties hard
DOMINICAN REPUBLIC · Forecast · 07 Nov 2017

In Q3 economic activity seems to have recovered as a result of the recent monetary stimulus. In July, GDP growth (measured IMAE) was 3.1%, and in August it was 5.1%. Despite the upturn, the trend seems to point to a slowdown in growth and a convergence towards the long-term rate (5%) or a moderat...

Real GDP growth rate for Jan-Aug 2017: 4%
DOMINICAN REPUBLIC · In Brief · 24 Oct 2017

Yesterday, the Central Bank released figures of GDP growth which confirm that the economy continues growing below its long term rate. The Economic Activity Monthly Index (IMAE for its Spanish acronym) for the period January-August was set at 4%. Although authorities are forecasting a real GDP gro...

In Political Parties Law, Media Likely to Prevail
DOMINICAN REPUBLIC · Report · 05 Oct 2017

Although the eye of Hurricane Maria did not touch the country, it came close enough to flood entire towns and plantations, displacing thousands of families, and damaging infrastructure and crops in the East and Northeast. In politics, attention has focused on the debate over the political part...

Rains from Hurricane María leave damages well beyond expectations in the East and Northeast
DOMINICAN REPUBLIC · In Brief · 22 Sep 2017

As expected, Hurricane María did not hit directly the DR territory but dropped massive amount of water in the East and Northeast of the country.The damages are well beyond expectations. Severe flooding have ocurred in densily populated areas of Duarte, María Trinidad Sánchez, El Seybo, La Altagra...

Hurricane Maria unlikely to have direct impact; the country prepares
DOMINICAN REPUBLIC · In Brief · 20 Sep 2017

Just day after being seriously threat by Hurricane Irma, the Dominican Republic prepares for the possible impact of Hurricane Maria. As we write, Maria is hitting Puerto Rico, as its eye is passing through the middle of the island. Reports indicate that the damage is being massive. In the DR, a d...

Hurricane Irma caused little damage in the DR
DOMINICAN REPUBLIC · In Brief · 09 Sep 2017

Hurricane Irma caused little damage in the DR, mostly in the North Coast. The reason is that its eye, where maximum wind speed is registered (175 mph), passed nearly 75 miles off the coast. Damage was mostly caused by floods by sea waves. Although tourist areas were hit, hotels and facilities wer...

Aiming for an Image of Judicial Independence
DOMINICAN REPUBLIC · Forecast · 05 Sep 2017 · 1 response

The National Council of the Magistracy (CNM) last month appointed new judges to the Superior Electoral Court (TSE), the highest court for the resolution of electoral conflicts. Although the appointments, factually under control of President Danilo Medina, secured the PLD’s control over the court,...

Real GDP growth declines to 4% in H1
DOMINICAN REPUBLIC · In Brief · 09 Aug 2017

The Central Bank released data that reveals a noticeable contraction in economic activity in H1. The Monthly Indicator of Economic Activity (IMAE, for its Spanish acronym) set real GDP rate of growth at 4%, below its potential. In H1 2016, GDP growth was estimated at 7.4% and for the whole year a...

Green Movement Power Expands
DOMINICAN REPUBLIC · Report · 04 Aug 2017 · 1 response

Monetary policy has changed course, at least in the short run. Effective August 1st, the Monetary Board cut by 2.2% the coefficient of required reserves for financial intermediation entities. This represents a release of up to DOP 20.4 billion (nearly $425 million). The Board also cut policy inte...

Government on the Defensive Over Corruption
DOMINICAN REPUBLIC · Report · 13 Jul 2017

Economic activity is slowing, according to official data. Between January and May, growth was up 4.2% from the same period in 2016, and up 5.2% between January and March. Inflation continues to be low. In May, the CPI shrank 0.14%, bringing accumulated ytd inflation to 0.96%, and annualized infla...

Odebrecht Accusations Stir Political Earthquake
DOMINICAN REPUBLIC · Forecast · 02 Jun 2017

Amid weeks of public speculation, the Attorney General has finally accused 14 people in the DR of participating in Odebrecht’s bribery scheme here. Most of the accused have high political profiles; many are close to ex-president Leonel Fernandez, among them former ministers; the president of the ...

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