The Central Bank of the Dominican Republic (BCRD) has been recognized by the international publication Capital Finance International (CFI) with the 2018 Best Central Bank Governance (Central America and the Caribbean) award. The CFI.co Awards 2019 are handed by readers and a panel of judges to recognize entities considered worthy of special recognition.
Central Bank Governor Héctor Valdez Albizu said that he was pleased with the recognition. He received the recognition in the name of the Monetary Board, as the key organization of the BCRD, pointing out that the country was also considered by the IMF and the World Bank as a stellar destination for investment, given the strength of the economy and its growth, which he suggested should make all Dominicans feel proud.
The evaluation judges for the award said that since 2012 the BCRD has operated under an Inflation Targeting Scheme that has reduced the level and volatility of inflation in the Dominican Republic, helping to anchor expectations of economic agents around BCRD inflation targets and to increase the credibility of its monetary policy. The publication acknowledges that responsible fiduciary models employed by the BCRD have delivered stable economic growth to the country, averaging around 6% over the past four years.
In addition, the judging panel of the CFI thought that the employees of the BCRD were their best asset, citing the training and the financing facilities for graduate study, and that 450 employees hold masters and doctorate degrees.
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Listin Diario
CFI
24 April 2019