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Who has taken on the most debt in the DR

A report in El Dinero published yesterday, Tuesday 12 April 2016 focuses on the Dominican Presidents and the extent to which they have indebted the country.

The report concludes that in absolute terms, current President Danilo Medina has brought about the greatest increase in the Dominican Republic’s debt. In his first two years, he increased the debt from US$19.46 billion (33% of GDP) to US$23.81 billion (37.2% of GDP) by December 2014. That is an increase of almost US$4.5 billion. The writer speculates that by the end of his term of office, the Medina administration will have added US$8 billion to the Dominican foreign debt.

The report nevertheless concludes that when analyzing the foreign debt taking over the past 44 years, the highest level of debt was actually taken on during the eight consecutive years of the Leonel Fernandez governments (2004-2012). During that time the Dominican public debt increased from US$6.58 billion in 2004 to US$19.46 billion by 2012.

Source: DR1, Eldinero

April 14, 2016

Category: DR News |

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Last updated October 26, 2016 at 10:54 PM
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