IMF Staff Country Reports

Dominican Republic: 2024 Article IV Consultation-Press Release and Staff Report

September 13, 2024

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Format: Chicago

International Monetary Fund. Western Hemisphere Dept. "Dominican Republic: 2024 Article IV Consultation-Press Release and Staff Report", IMF Staff Country Reports 2024, 294 (2024), accessed November 21, 2024, https://doi.org/10.5089/9798400288708.002

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Summary

The 2024 Article IV Consultation explains that a track record of sound policies and institutional policy frameworks has helped the Dominican Republic achieve robust and resilient economic growth and low inflation over the last two decades. Effective policies contributed to a growth moderation that appropriately supported inflation’s rapid and sustained return to its target last year and then aided the recovery, while close monitoring of the financial sector supported macro-financial stability. Planned enhancements to policy frameworks and deepening structural reforms—in particular, comprehensive fiscal and electricity reforms—have the potential to further support stability, competitiveness, and inclusive growth. The financial sector remains resilient and well capitalized, and efforts to bring the regulatory framework up to the latest international standards should continue. The fiscal policy framework and spending and revenue efficiency can be further enhanced by continued improvements to public financial management and further strengthening of revenue administration. Reforms to education and the labor market, alongside further improvements to social outcomes and implementation of climate adaptation and mitigation policies will be critical to support inclusive and resilient growth and continue to reduce vulnerabilities.

Subject: Economic sectors, Fiscal policy, Fiscal stance, Public debt, Public sector, Revenue administration

Keywords: Article IV consultation discussion, Central America, Currency of the Dominican Republic, Fiscal stance, Global, Inequality construction sector statistics, Policy priority, Public sector, Statistics office, Western Hemisphere department

Publication Details

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