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Sunday, February 20, 2011

IMF pleased with Dominican Republic

The International Monetary Fund’s latest assessment of the economy in the Dominican Republic suggests the country is experiencing growth rates far exceeding that of many of its Caribbean neighbours.

After charting figures of nearly 8 per cent last year, the Fund says the country’s economy should see growth this year, of at least five percent.

The International Monetary Fund’s latest review of the Dominican Republic’s economy was to assess how the country has been performing under its standby loan arrangement with the institution.

The Dominican Republic signed a US $1.7 billion dollar loan deal with the IMF in November 2007.

At the time the IMF said the money would help stimulate the economy and lead to robust, sustainable growth.
This latest report suggests the country may be attaining those goals.

The Fund says the Dominican Republic’s total economic output, grew by 7.8% last year, while the government was able to keep inflation within target at around 6.2 %.

While the country’s economy is not expected to grow to the extent that it did last year, the projection for 2011 is at least 5% cent.

Source: Stabroek News

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