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The International Monetary Fund (IMF) visits Dominican republic

A delegation from the International Monetary Fund (IMF) is in Santo Domingo for a series of consultations. The mission, headed by Aliona Cebotari Ouanes is also made up of Metodij Haszi-Vaskov, Niklas Johan Westelius, Svetlana Cerovic and Marina Marinkov who met with Central Bank Governor Hector Valdez Albizu on Tuesday, 10 November 2015.

According to a press release from the Central Bank, they analyzed the 2015 macroeconomic indicators, the international environment, and the most favorable aspects of the Dominican economy during the meeting.

Valdez Albizu said that the Dominican economy had grown by 6.7% from January to September 2015, pointing out that the inflation rate for October was only 0.74% and year to date was 2.08%. For the 12 months to October it was 1.23%, which is significantly lower than the 2.88% rate recorded for the same period in 2014.

They also discussed monetary policy, macroeconomic stability and the low inflationary pressure.

The Central Bank says that 155,189 new jobs have been created over the last 12 months, and 390,789 over the past three years, of which 85% were in the formal sector.

For the end of 2015, the Central Bank has projected a deficit of around 2% of GDP, which is below the historical average and the lowest in the last decade. Tourism income is expected to increase by around 10% to around US$6.1 billion, which would also help bolster macroeconomic stability.

IMF country representative Frank Fuentes also attended the meeting, and the Central Bank was also represented by its deputy governor, Clarissa de la Rocha de Torres, manager Ervin Novas, deputy manager of Monetary Policy, Exchange and Finance Joel Tejeda, Economic Advisor Olga Diaz, and the Director of Monetary Program Julio Andujar.

Source: DR1, Listindiario

Nov 11, 2015

Category: DR News |

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