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COUNTRY INSIGHTS

Dominican Rep issued USD 1 bn in Sovereign Bonds
DOMINICAN REPUBLIC · In Brief · 26 Jan 2016

On 22 January, the Dominican government issued and allocated in capital markets Sovereign Bonds for a total amount of USD 1 bn . The bonds have a term of 10 years and the rate settled was 6.875%. The bonds were previously approved by Congress and the financing is included in the Budget Law for 20...

Medina Still Looks Unbeatable
DOMINICAN REPUBLIC · Report · 26 Jan 2016

President Danilo Medina, who is running for reelection on the Partido de la Liberación Dominicana (PLD) slate, holds a 30-point lead over his nearest challenger, Luis Abinader of the Partido Revolucionario Moderno (PRM), according to the latest polling data. Some 57% said they would support Medin...

New Alliance Reconfigures the Election Scenario
DOMINICAN REPUBLIC · Report · 22 Dec 2015

The electoral scenario keeps shifting, sometimes in surprising ways. Last week, the social democratic PRM and the conservative PRSC – the latter a traditional ally of the ruling PLD -- announced an electoral alliance, after negotiations between the PRSC and the PLD failed to generate a satisfacto...

Medina at His Worst Time
DOMINICAN REPUBLIC · Forecast · 23 Nov 2015

There is little doubt that Danilo Medina and his government are at their worst moment. The charm surrounding the figure of the President has been fading, and although no recent data is available from credible polls, it is very likely that his popularity has diminished. A series of events have ...

Congress Likely to Rubber Stamp Unremarkable New Budget
DOMINICAN REPUBLIC · Report · 27 Oct 2015

Economic activity continues to grow at a healthy clip, rising an estimated 7.1% in Q3 and 6.7% y/y, with accumulated January to September growth at 6.4%. Inflation in September reached 0.16%; accumulated inflation for the first nine months of the year stood at 1.33%; and y/y inflation was 0.39...

Macro figures of the 2016 budget bill: a carbon copy of 2015; deficit of NFPS set at 2.3% of GDP
DOMINICAN REPUBLIC · In Brief · 30 Sep 2015

Yesterday, the government submitted to Congress the budget bill for 2016. The bill set total expenditures and financial applications at DOP 663.6 bn, equivalent to 20.1% of GDP. Primary expenditure is estimated at 17.1% of GDP, 0.4% less than the level set in the 2015 budget Authorities forecast ...

Exports to Haiti threatened by bans
DOMINICAN REPUBLIC · Report · 28 Sep 2015

In June and July economic activity accelerated. The Monthly Indicator of Economic Activity (IMAE for its Spanish acronym) estimated the increase in production for June at 6.5%, and for July at a surprising 7.5%. Inflation in August with respect to July, as measured by the percentage change in ...

Robust Growth and Low Inflation
DOMINICAN REPUBLIC · Forecast · 26 Aug 2015

Growth was strong and inflation muted in H1, with GDP growth estimated at 6.4%, and accumulated inflation reaching just 0.64%. Low inflation resulted from lower oil prices, which drove down transportation prices -- but reduced pressure on the currency was a secondary factor. We expect an incre...

Medina Commands Wide Lead, Controversies and All
DOMINICAN REPUBLIC · Report · 21 Jul 2015

Executive Summary Inflation is returning to normal, after a period in negative territory as oil prices declined. Inflation in June was 0.41%, up from 0.29% in May. Yet low inflation in the first four months of 2015 will keep the annual figure very low. Monetary authorities continue to pursue a po...

Warning: Polarization Ahead
DOMINICAN REPUBLIC · Report · 23 Jun 2015

Executive Summary The political landscape has changed dramatically over the past three weeks, emerging from confusion to arrive at clarity: we now see that the country is headed toward political and electoral polarization. On one side are President Danilo Medina and his Partido de la Liberación D...

Constitutional amendment definitively approved. Re-election allowed.
DOMINICAN REPUBLIC · In Brief · 15 Jun 2015

In a second and definitive vote, last Friday the National Assembly approved to amend the Constitution. The amendment allows an incumbent President to be nominated for a second term and forbids him/her to run for President again ever. In a formal ceremony that took place on Saturday, the Assembly ...

The National Assembly voted YES on a Constitutional ammendment to allow re-election. A second and definitive vote will be on Friday
DOMINICAN REPUBLIC · In Brief · 08 Jun 2015

On Saturday, the National Assembly voted YES on the proposal to amend the Constitution in order to allow a current President to run for re-election. The proposal passed with 183 votes out of 222. The assembly will meet again on Friday for a second and definitive vote. If finally approved, the ame...

National Assembly convened on Saturday to amend the Constitution to allow re-election
DOMINICAN REPUBLIC · In Brief · 04 Jun 2015

Last Tuesday, the House approved by a significant majority the bill that calls for a meeting of the National Assembly to discuss the proposal to amend the article of the Constitution which impedes a sitting President to run for re-election. The amendment proposed would allow a President to run fo...

Medina beats Fernández: reelection bid at full speed
DOMINICAN REPUBLIC · In Brief · 28 May 2015

Today an agreement reached between former President Leonel Fernández and President Danilo Medina put a dramatic end to the severe crisis of the Partido de la Liberación Dominicana (PLD) which was in the verge of a division. The agreement paved the way to get approved a Constitutional amendment wh...

Fernández obstructs reelection; puts him in direct collision course with President Medina
DOMINICAN REPUBLIC · In Brief · 27 May 2015

In a televised speech that caused great expectation and got record audience, former President Leonel Fernández objected current attempts to reform the Constitution in order to allow President Danilo Medina to run for reelection based on moral and legal grounds. Fernández recalled that at least in...

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