Former Governor of the Central Bank Hector Valdez Albizu said the Dominican economy is in no way in crisis. He said that the deficit of the balance of payments at year-end was US$48 million, "practically nothing." The balance of payments had shown a surplus during the previous five years. Valdez attributed the situation to an adjustment process that takes time. He was interviewed at the end of the "Dollarization of the Economy" workshop organized by the American Chamber of Commerce. Valdez trusts the economy will return to normal within the next few months. He said this will occur as soon as people change their apprehensions and negative expectations. He said the present government received a viable and healthy economy. If not, the present authorities would not have been able to announce year-end growth of 8% with an inflation rate of 9% and a fiscal deficit of 2%, as well as a stable peso. The Mejia administration took office last August.
