Dominican Republic: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominican Republic

June 22, 2023

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Dominican Republic: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominican Republic, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Summary

Supported by sound policies and positive spillovers, the Dominican Republic has staged an impressive recovery from the pandemic, cementing its place as one of the most dynamic and resilient economies in the Western Hemisphere. The strong recovery began moderating at the end of 2022 in response to tighter global financial conditions, lower global demand, and policy accommodation withdrawal, helping ease inflationary pressures. The current account deficit widened in 2022 to 5.6 percent of GDP and was mostly financed by Foreign Direct Investment (FDI) flows, with the country maintaining sound market access. The financial sector appears well-capitalized, liquid, and profitable.

Subject: Commodities, Economic sectors, Electricity, Inflation, International organization, Monetary policy, Prices, Public debt, Public sector, Revenue administration

Keywords: Central America, Core inflation, CPI basket, Electricity, Global, Inflation, Inflation expectation, Liability positions vis-à-vis nonresident, Market expectation, Near-term policy priority, Public sector, Return on equity

Publication Details

Pages:

117
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/225
Stock No:

1DOMEA2023001
ISBN:

9798400247521
ISSN:

1934-7685

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