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COUNTRY INSIGHTS

May: a month between the good news of recovery, and the bad news of a third COVID-19 wave
DOMINICAN REPUBLIC · Report · 08 Jun 2021

Amid the good news of the economy expanding by 11.5% during January-April 2021, from the same period in 2020, the government was forced to announce the imposition of greater restrictions on mobility for the first week of June, and the intensification of vaccination efforts. The COVID-19 situat...

Greater restriction on mobility to stop the advance of the third wave of COVID-19
DOMINICAN REPUBLIC · In Brief · 01 Jun 2021

With the advance towards a third wave of Covid-19, yesterday the Government imposed stricter measures to restrict mobility and distancing. During the week of June 2 to June 9, in the National District and in 24 provinces circulation will be restricted from 6:00 pm. at 5:00 am from Monday to Frida...

Extraordinary growth in economic activity in April 2021
DOMINICAN REPUBLIC · In Brief · 26 May 2021

Today the Central Bank disclosed that the Monthly Indicator of Economic Activity grew 47.1% in April 2021 compared to April 2020. This expansion not only made it possible to reverse the drastic year-on-year drop of 29.8% experienced in April 2020 but also exceed the level of pre pandemic economic...

There are no conditions to implement a tax reform in 2021.
DOMINICAN REPUBLIC · In Brief · 20 May 2021 · 2 responses

In a long interview to review the first 9 months of his administration, President Luis Abinader indicated that there are no conditions for a tax reform in 2021 and that it is necessary to reach an agreement to see when is the best time to implement said reform. He said that the social forces of t...

Instead of calling for the discussion of the Fiscal Pact, the Government begins discussion of a Social Pact with workers and employers.
DOMINICAN REPUBLIC · In Brief · 19 May 2021 · 1 response

Yesterday, the Government launched the call for the discussion of a Social Pact with the participation of representatives of the business and labor sectors. The agenda of the discussion is the revision of the Labor Code and the Social Security Law, the first with 30 years of validity and the seco...

The government is betting on total openness; timing for fiscal pact decisions tightens
DOMINICAN REPUBLIC · Report · 10 May 2021

With the arrival of 2 million vaccines from China, and the incorporation of the whole population over the age of 18 into the vaccination program, the government seeks to create conditions to proceed with the complete opening of the economy. In fact, in April the restriction on mobility has been r...

​Economic growth in March 2021 was 10.6%, compared to March 2020
DOMINICAN REPUBLIC · In Brief · 29 Apr 2021 · 1 response

The recovery of the Dominican economy strengthened last March. The growth of the Monthly Index of Economic Activity (IMAE) was 10.6%, compared to the same period in 2020. This is the second consecutive month where economic activity in 2021 continues to expand, exceeding the existing levels in Feb...

Economic recovery underway, amid higher inflation
DOMINICAN REPUBLIC · Forecast · 16 Apr 2021

For the first time since the start of the pandemic, the Dominican Republic in February showed positive y/y growth, of 1.1%, which offset the -1.8% contraction seen in January. Accumulated growth in January-February 2021, compared to the same period in 2020, was -0.3%. The expansion, mainly in con...

​For the first time during the COVID 19 pandemic, economic activity shows positive year-on-year growth
DOMINICAN REPUBLIC · In Brief · 31 Mar 2021

In February 2021, for the first time the Monthly Index of Economic Activity shows positive year-on-year growth, compared to the situation just before the start of the COVID-19 pandemic. The growth rate was 1.1% in Feb 2021 compared to situation in 2020. The most dynamic economic activities have b...

Sound start of vaccinations points to light at the end of the tunnel
DOMINICAN REPUBLIC · Report · 08 Mar 2021

A series of important events in February gives us indications of what to expect in the near future. First, the vaccination process began on February 16th, and as of March 4th, 304,490 people, or 3.9% of the target population of 7.8 million, had been vaccinated. The goal is to vaccinate at lea...

​Finally, the Electric Pact was signed
DOMINICAN REPUBLIC · In Brief · 26 Feb 2021 · 2 responses

Yesterday the National Pact for the Reform of the Electricity Sector 2021-2030 was signed. This Pact aims to “build a agreed vision of the electricity system to guide the actions to be developed in the short, medium and long term for the Dominican Republic to have definitively an efficient, compe...

Vaccination against Covid-19 begins
DOMINICAN REPUBLIC · In Brief · 16 Feb 2021

Today, the vaccination process of the Dominican population against Covid-19 begins. The first vaccines arrived yesterday and correspond to the Covishield vaccine, developed in India by Astrazeneca. The National Vaccination Plan against Covid-19 was also presented yesterday, which contemplates the...

The future looks clearer, but risks persist
DOMINICAN REPUBLIC · Report · 09 Feb 2021 · 1 response

The Dominican Republic began 2021 feeling the onslaught of the second wave of COVID-19, internally evidenced by the increase in the number of infections and deaths, and externally by greater restrictions on international mobility - the most extreme expression of which is the ban on flights from C...

Dominican Government issues bonds for USD2.5 b as part of the financing of the public budget for 2021.
DOMINICAN REPUBLIC · In Brief · 14 Jan 2021

The Minister of Finance announced the issuance of sovereign bonds for USD2.5 b as part of the financing to be contracted in 2021. Of the total of bonds issued, USD1 b corresponds to the opening of a bond that matures in 2030 with a yield of 3.87% , while the remaining USD1.5 b corresponds to a ne...

Second COVID-19 wave smacks economic recovery
DOMINICAN REPUBLIC · Forecast · 06 Jan 2021

The second wave of COVID-19 has overshadowed expectations for 2021 consolidation of the economic recovery formed after the announcement of the availability of vaccines, and the prospects for extensive worldwide vaccination campaigns. In December it grew evident that the country was entering a sec...

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