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COUNTRY INSIGHTS

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...

GDP growth for Q1 2015 reported at 6.5%
DOMINICAN REPUBLIC · In Brief · 21 May 2015 · 3 responses

The Central Bank reported that the Dominican economy recorded an outstanding 6.5% GDP growth in Q1 2015 compared to the same period in 2014. This is the highest rate of economic growth in the region when compared to forecasts. Panama is the second highest with 5.1% followed by Guatemala (4.4%), H...

Amid Struggle Between Titans, Opposition PRM Rises
DOMINICAN REPUBLIC · Forecast · 19 May 2015

Executive Summary The economy grew by a robust 6% in Q1, with accumulated inflation only 0.64%, the Central Bank reported. Currency pressures declined in March, pushing net international reserves up slightly, while tax revenues rose in line with nominal GDP growth rates. Spending also accelerated...

Dominican Rep politics: Bill declaring the need to allow re-election introduced in the Senate
DOMINICAN REPUBLIC · In Brief · 01 May 2015

In a bold move, yesterday 13 Senators introduced a bill in the Senate declaring the need to amend article 124 of the Constitution and calling for a joint session of the Senate and the House in order to introduce changes. The amendment would allow an incumbent President to run for re-election and ...

Dominican Rep allocates USD 1 bn in Sovereign Bonds
DOMINICAN REPUBLIC · In Brief · 30 Apr 2015

Today, the Government of the Dominican Republic allocated USD 1 bn in Sovereign Bonds in global capital markets. The dual-tranche allocation (reopening of 10 and 30-year bonds) is part of the financing needs set in the budget for 2015. The reop of the 10-year bonds reached 5.125%, with a total am...

Abinader defeats Mejia by a landslide in Presidental nomination bid
DOMINICAN REPUBLIC · In Brief · 27 Apr 2015

Yesterday, the Partido Revolucionario Moderno (PRM) elected its Presidential nominee for the 2016 general elections. According to the second bulletin released by the National Organizing Commission of the PRM convention, Luís Abinader defeated former President Hipólito Mejía by a landslide. Abinad...

Medina A Step Closer to Running
DOMINICAN REPUBLIC · Report · 21 Apr 2015

Executive Summary The IMAE for January and February shows that growth, though still strong, is slowing. Inflation in March reached 0.14%, and accumulated inflation in Q1 was only 0.16%, while y/y inflation continues to decline. Monetary policy remains tight, though at the end of March the Central...

Dominican Rep 2014 NFPS deficit closed at 2.5% of GDP; lower than expected
DOMINICAN REPUBLIC · In Brief · 31 Mar 2015 · 5 responses

Official figures from the Ministry of Finance revealed that total deficit of the Non-Financial Public Sector for 2014 was lower than programmed in the budget. The Accounting Directorate of the Ministry reported that the deficit closed at DOP 70.5 bn equivalent to 2.5% of GDP; that is DOP 7.2 bn (...

A Battle for the Presidency
DOMINICAN REPUBLIC · Report · 20 Mar 2015

Executive Summary Preliminary Central Bank estimates put the 2014 NFPS deficit at 3.0% of GDP, 0.2 percentage points above the target. Though this comes as a surprise, definitive figures are yet to be seen. Inflation rebounded to its normal levels February, with deflationary pressures declining a...

Medina Winning Wide Support
DOMINICAN REPUBLIC · Report · 24 Feb 2015

Executive Summary Some 70% of adults surveyed support the idea of a constitutional amendment to allow President Danilo Medina to run for re-election, the country’s most respected polling organization reports. The pollster, Gallup-Hoy, also said that 64% of those surveyed believed that Medina shou...

Dominican Rep buys back the debt with Venezuela under Petrocaribe with a 52% discount
DOMINICAN REPUBLIC · In Brief · 30 Jan 2015

After months of rumors, last night the Minister of Finance of the Dominican Republic announced that the government has bought back 98.5% of the total debt with PDVSA, the Venezuelan state owned oil company. The debt was contracted under Petrocaribe, a program which provides generous financing for...

Dominican Rep government placed Sovereign Bonds for USD 2.5 bn
DOMINICAN REPUBLIC · In Brief · 22 Jan 2015

The government of the Dominican Republic announced that it placed Sovereign Bonds for USD 2.5 bn. USD 1 bn worth of bonds were placed with 10 years maturity at an interest rate of 5.5%, and USD 1.5 bn were placed with 30 years maturity at an interest rate of 6.85%. Average maturity of the two lot...

A Year Of Political Definitions
DOMINICAN REPUBLIC · Report · 16 Jan 2015

Executive Summary Preliminary figures from the Central Bank indicate that GDP growth for 2014 exceeded expectations.It recorded an increase of 7.1% compared to 2013, the highest in Latin America. All economic sectors registered growth. The leading activities were mining (20.9%), construction (11....

GDP growth at 7.1% in 2014; CAD reduces to 3.1% of GDP; inflation was the lowest since 1984
DOMINICAN REPUBLIC · In Brief · 11 Jan 2015

The Central Bank released GDP growth figures for 2014. Expansion of economic activities was estimated at 7.1% compared to 2013. The figure is well above expectations and is the highest rate registered in Latin America, whose average reached only 1.1%. Leading activities were mining (20.9%), const...

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