DR1 Daily News - Dominican Republic

Fitch Ratings, a leading global rating agency, has reaffirmed the Dominican Republic’s long-term foreign-currency issuer default rating at ‘BB-‘ with a positive outlook, the Dominican Presidency reports. This upgrade reflects the country’s robust economic growth, improved governance indicators, and potential for further reforms to strengthen its macroeconomic framework.

According to Fitch, the Dominican Republic’s rating is supported by a history of robust economic growth, a diversified export structure, a high per capita gross domestic product (GDP), and favorable governance outcomes, which compare favorably to other countries in the region.

The rating agency also highlighted the recently approved Fiscal Responsibility Law, which establishes a fiscal rule limiting real government spending growth to 3% (7% in nominal terms) and anchors debt at 40% of GDP by 2035. This...