So what people are trading dollars for pesos? Tourism which supplies a very large portion of dollars is almost non-existent. There is little demand for pesos these days...........thus why the government just "placed" a 3.8 billion dollar bond offering.........a/k/a borrowing.
There is little to no demand for pesos.......and the government needs dollars to pay its international obligations. If you believe that increasing the peso rate per dollar will somehow attract more dollars, I offer Venezuela and Argentina as regional examples of why that theory will not work.
Without tourism and the dollars it brings...............the economy will be challenged.......at best.
And no tourist recovery is in sight.............no matter what the government does/says..........until at least November 2021 (my observation). The situation is beyond their control now.
Respectfully,
Playacaribe2
Yes it is beyond their control.
As many of us said, people make plans for vacations in advance and since the DR was under the death-to-freedom protocol this was a destination scratched off many lists.
So while is too late to rescue the full tourism for winter 2020/2021, it is more than likely it can be rescued for next year, but that will take more action on DR's part.
It will take less doom and gloom numbers for Covid being ballyhooed by 'experts' and the end to curfews. Yes the end.
What is particularly disturbing is the lower weekend hours (Friday-Sunday)
Yes even tourists and expats still realize weekends as 'time to get out' here in DR.
Everyone wants the normal to return and businesses to prosper.