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COUNTRY INSIGHTS

Could Cuba become an economic threat?
DOMINICAN REPUBLIC · In Brief · 29 Dec 2014

The simultaneous announcement by the governments of Cuba and the United States to restore diplomatic relations and normalize economic ties received a very warm welcome in all Latin America. Nonetheless, in the Caribbean and in the Dominican Republic it has also been received with some concern due...

Oil Price Plunge a Welcome Holiday Gift
DOMINICAN REPUBLIC · Report · 22 Dec 2014

Executive SummaryEconomic activity continued strong in October, with the monthly economic activity indicator turning in an output rise of 5.9% y/y. Monthly activity growth was 7.1% on average between January and October, and deviation from the average was moderate.Consumer prices fell 0.14% in No...

Venezuela could have sold Dominican Rep's debt under Petrocaribe to Goldman Sachs at 41% of its value
DOMINICAN REPUBLIC · In Brief · 06 Dec 2014 · 3 responses

According to press reports, Venezuelan goverment and its PDVSA would have sold to Goldman Sachs the debt of the Dominican Republic contracted under the terms of Petrocaribe, an agreement through which Venezuela provides long term low interest credit for a portion of oil imported from Venezuela. G...

Economic Performance Stellar, while Corruption Weakens Fernández
DOMINICAN REPUBLIC · Forecast · 18 Nov 2014

Executive Summary Economic performance couldn’t be better. GDP growth in 2014 through Q3 was outstanding, climbing to 7%, from 3.7% last year. The numbers were positive across sectors. Inflation was estimated at 2.83%, nearly half the level of the same period of 2013; we expect it to end 2014 ben...

Dominican Rep: Jan-Sep GDP growth: 7%
DOMINICAN REPUBLIC · In Brief · 24 Oct 2014

The Central Bank announced that accumulated GDP growth for the first three quarters of the year reached 7%, almost twice as much as the rate registered for the same period in 2013. Mining was the leading activity with 24.1%, followed by construction (10.7%), tourism (8.2%), health (8.2%) and fina...

Spending Less, to Pay More Debt
DOMINICAN REPUBLIC · Report · 17 Oct 2014

Executive Summary The proposed federal budget for 2015 is more restrictive than last year’s: though spending would rise 2.9%, primary spending is projected to fall, both in real and GDP terms, as the government aims to slice the non-financial public sector deficit, cut public investment spending ...

A Mountain of Discord
DOMINICAN REPUBLIC · Report · 12 Sep 2014

Executive Summary After months of social mobilization, a heated national debate and hectic activity in the legislature, Congress passed a law declaring Miranda Hill a national park. Miranda Hill is a mountain in the central mountain range, and the origin of the country’s most important rivers. Th...

President Medina stirs the hornet's net on re-election
DOMINICAN REPUBLIC · In Brief · 21 Aug 2014 · 1 response

In answering questions from the media, President Danilo Medina stirred the hornet’s nest. Instead of closing the debate with a clear “no” to the possibility of amending the Constitution to allow him to run again, Medina said that he’ll provide an answer “when the time comes”. This answer contrast...

Robust Growth, without Fiscal Surprises
DOMINICAN REPUBLIC · Report · 19 Aug 2014

Executive Summary GDP growth rose an impressive 5.2% in H1, according to new Central Bank data, the largest expansion for a single semester since 2010. Accumulated inflation reached 1.93%, while y/y inflation was 3.41%, well below the lower limit of the Central Bank’s 2014 target range (4.5% ± 1%...

Skepticism Could Hamper Mining Investment
DOMINICAN REPUBLIC · Report · 16 Jul 2014

Executive Summary Mining is clearly the Dominican Republic’s most dynamic economic activity. Mineral exports have climbed from less than 0.5% of goods exports in January 2010-March 2011, to more than 4% in April 2011-October 2012, and subsequently to more than 15%. In 2013, metallic minerals expo...

Is Petrocaribe Financing in Jeopardy?
DOMINICAN REPUBLIC · Report · 24 Jun 2014

Executive Summary Increasing political and economic turmoil in Venezuela is raising concern over the Dominican Republic’s vulnerability to a fall in financing for Venezuelan oil purchases. Venezuela sells the DR oil and derivatives through its Petrocaribe program, on highly concessional terms, su...

Growing Reliance on Petrocaribe for Financing
DOMINICAN REPUBLIC · Report · 23 Jun 2014

Evidence collected for this report suggests that the Dominican Republic is vulnerable to significant changes in the financial conditions in which Venezuela sales oil and derivates through the Petrocaribe program. Together with the United States, Venezuela is the largest oil provider to the DR (ar...

GDP growth for Q1 2014 makes many raise their eyebrows
DOMINICAN REPUBLIC · In Brief · 05 Jun 2014 · 3 responses

The Central Bank released figures of GDP growth for Q1 2014. Once again it was a surprise as they registered an expansion of 5.5% in economic activity. It is true that compared to Q1 2013, the worst quarter for economic growth in year, any recovery would be reflected in relatively strong numbers....

Law that recognizes citizenship to descendant of irregular migrants approved by Congress
DOMINICAN REPUBLIC · In Brief · 22 May 2014

After months of heated national debate and stiff pressure from the international community, last week President Medina submitted to Congress a bill aimed at recognizing citizenship to descendent of migrants born in the country who were properly registered in the Civil Registry and hold birth cert...

Medina Most Popular of All
DOMINICAN REPUBLIC · Forecast · 21 May 2014

Executive Summary Even two years before the 2016 presidential elections, prospective candidates for the two main political parties are beginning to place in the polls. As expected, former president Leonel Fernández is the most popular prospective PLD candidate so far, according to the most recent...

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