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The crisis in Venezuela will harm the Dominican Republic

SANTO DOMINGO. The Dominican Republic is among the countries identified as vulnerable in the face of the tensions in Venezuela over the Petrocaribe agreement, according to Moody’s Investors Services.

The report points out that the country is “moderately” vulnerable to the events in Venezuela, which could limit the possibility of an increase in the classification of the country’s bonds, for the investment firm. According to Moody’s “the exposure to Petrocarib limits the possibility of improving the classification of the bonds. However, it creates pressure for the classification of those bonds to decrease in case there is a change in Venezuela and in the leadership of Petrocaribe.”

According to the information, those countries currently have a deficit in their accounts and the contribution of oil from Venezuela is greater than 40% of the total they consume. The report points out that the interest of the Venezuelan government is to continue the Petrocaribe agreement.

Source: DiarioLibre

Category: DR News |

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Last updated March 25, 2017 at 5:40 PM
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