Outlook good for the Dominican Republic, remittances continue to pour in


Staff member
Feb 20, 2019

According to the IMF’s April World Economic Outlook, the conditions of the Dominican external sector will continue to improve since the expectations are for the US economy to grow 6.4% in 2021. Given the close relationship between both countries, the DR is also expected to continue to recover from the health and economic crisis.

A press release from the Central Bank explains that the positive outlook for the US is showing in the increase in remittances sent to the Dominican Republic by the Dominican diaspora. The upward trend in remittances from abroad continued in April 2021. Remittances were US$910.8 million. Cumulatively, during the first four months of the year, remittances have totaled US$3.46 billion, US$1.36 billion more than the same period in 2020, for a 64.9% year-over-year growth rate.

The Central Bank says that the recovery of the US economy and the American...

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