During a speech celebrating the 58th anniversary of the Central Bank, Hector Valdez Albizu revealed that the Dominican economy had grown by 10.3% during the third quarter and brought the overall average GDP growth for the first three quarters to 7.3%. Central Bank governor Valdez Albizu said that the nation’s GDP should show a 7% growth by the year’s end. The official was emphatic as he told his audience that “we have gone beyond the predictions for economic growth (set by the IMF) and all indications are that the economy is heading towards a recovery of the growth rate similar to the last five years of the previous decade.” The Central Bank’s chief officer also said that as from 2006 the bank would change the data base for calculation the national accounts in a effort to still negative comments each time the Central Bank presents quarterly results. According to El Caribe, the governor also pointed out that the certificates of deposit held by the bank are totally backed by the hard currency monetary reserves. Valdez Albizu said that the bank used this tactic in order to avoid an increase in the value of the peso due to the large injection of capital into the economy.