DR1 Daily News - Dominican Republic

Central Bank Governor Hector Valdez Albizu was in Santiago on Wednesday, 24 May 2023 where he explained to the business community the new measures to revive growth in the country. The pace of growth had slowed as the Central Bank took action to reduce imported inflation earlier in the year.

Valdez Albizu explained that given the influx of foreign currency that was leading to an appreciation of the Dominican peso, the Central Bank has been buying important amounts of dollars so that the competitiveness of the external sector is not affected. He said the Central Bank made net purchases of foreign currency for US$1.6 billion, which has contributed to the strengthening of international reserves that stand at around US$16.3 billion to date.

He also announced a decrease in the monetary policy interest rate now that inflation is within the target range of 4% +1% at the end of...