President Leonel Fernandez says that governance in the DR would be affected if the peso depreciates again. The Fernandez government authorities have been keeping money circulation in control in order to maintain the appreciation of the peso. Several economists have said the peso is being manipulated, and this is having a negative effect on Dominican exports, including free zone manufacturing and tourism industry. Costs have not declined in the same proportion as the peso has appreciated. Furthermore, goods and service export price elasticity is much lower than on goods and services sold to the local market. While products sold to the local consumer are doing well, not so those sold abroad.
Finance Minister Vicente Bengoa said that to increase the exchange rate from RD$28 to RD$37, as recently suggested spokesmen for the hotel industry, the government would need to come up with an additional RD$7.88 billion to pay the foreign debt. The foreign debt doubled in the past administration.