2003News

Dominican annus horribilus

The Economic Commission for Latin America and the Caribbean (ECLAC) has calculated that 2003 has been the worst year for the Dominican Republic in the last decade. The Latin America-wide economic think-tank lists the 1.3% contraction in the economy, an inflation rate that topped 40%, the crisis in the banking sector, the increase in international debt, the quasi-fiscal deficit and the banking crisis as the main ingredients that have led to this dismal situation.