Inflation in the Dominican Republic, running at 9%, is higher than in all of Central America. Will Inflation Spoil the Dominican Republic’s Success?

Erifer

New member
Apr 20, 2022
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Santo Domingo

Published on Americas Quarterly's website by Geovanny Vicente-Romero


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“The best is yet to come”: These six words are frequently heard from Dominican Republic President Luis Abinader, who is enjoying one of the highest approval ratings in the region at 70%. But as Abinader’s term nears the halfway mark, this rosy outlook will be put to the test as the Dominican Republic suffers from region-leading inflation amid global price hikes. Time will tell if Abinader can usher in the new era of growth and prosperity he is promising.

The Dominican Republic has already experienced robust growth over the last 25 years, seeing its economy expand by an average of 6.1% per year, according to the World Bank. The Dominican economy contracted by 6.7% in 2020 but bounced back with 12.3% growth in 2021. And the longer-term picture remains a positive one: In July 2020, the Organization for Economic Cooperation and Development (OECD) ranked the Dominican Republic the fastest-growing economy since 2010 in Latin America and the Caribbean.

Read more on the Americas Society/ Council of the Americas‘s Americas Quarterly website: https://www.americasquarterly.org/article/will-inflation-spoil-the-dominican-republics-success/

Americas Quarterly is a publication dedicated to politics, business and culture in the Americas.
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
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Most of the "prosperity" this country has "achieved" during the last two years has come in the form of remittances, primarily from the USA, the overwhelming majority of which were obtained thru fraudulant means.
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
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Fraudulent by lying, cheating, stealing and scamming. The US Federal Government is refusing to conduct audits as they are embarrassed by the amount of money lost. California alone lost an estimated 20 billion USD in unemployment compensation fraud during the pandemic according to their state auditor and that doesn't include the money stolen in the form of PPP.

Many remittance records were smashed during the pandemic. Interesting because 90% of the Dominicans living in the USA live in NYC which had some the strictest lock downs in the country during that time yet everything was closed and no one was working
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
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Interesting perspective, thanks
Without going into a lot of detail, many people around where I live have family living in the states who openly admit their family members gamed the system. There are also a few construction projects happening near where I live which are 100% financed by PPP money.
 

El Hijo de Manolo

It's outrageous, egregious, preposterous!
Dec 10, 2021
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Dominican Republic
I like visuals. So let's do an example that's simple to follow. I lived in the Bronx. Dominicans in my building sold drugs. They sent that money to DR via WU. I'm sure i wasn't so unique that this only happened in my building and during that time.

Laundered money, once again, that is lining bank accounts and flooding the streets of this country is incomprehensible. What does this do to the currency? Devalues if you said you won final Jeopardy!