The Dominican Republic has fared better than its peers


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Santo Domingo, DR.
The Dominican Republic is showing a recovery that is appreciated as a success by the international community, highlighting the opinions of the most prestigious risk rating agencies, the most representative institutions of the international bank and various multilateral organizations.

An analysis by Pagina Abierta of the Central Bank States (PACB); “In general, all these entities have favorably weighted the implementation of macroeconomic policies consistent with the objectives of reviving productive activities, recovering jobs and protecting the most vulnerable segments of the population,” he explains. he.

Measures
The PACB says that since the World Health Organization (WHO) declared the coronavirus a pandemic in March 2020, the Central Bank of the Dominican Republic (BCRD) has implemented an expansionary monetary policy that included reducing the rate of ” benchmark interest of 4.5% to 3.0% and the implementation of various liquidity mechanisms, aimed at creating the conditions for financial institutions to place and refinance low-cost loans to Dominican businesses and households .

At the same time, the government has designed social programs to protect the most vulnerable groups of the population and ease the tax burden on businesses, especially in the sectors most affected by the pandemic, preserving jobs and protecting people’s income.

In December of this year, two rating agencies, Standard and Poor’s and Fitch released their assessments of the future performance of the Dominican economy, which improved the outlook from negative to stable.

Throughout 2021, only one country received a favorable opinion from the two major rating agencies across Latin America. Yet it was precisely the DR, an unmistakable sign of the nation’s positioning as one of the region’s most critical economic leaders.

Even in the case of economies like Mexico, Panama, Costa Rica and El Salvador, the outlook has been defined by rating agencies as unfavorable.

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