The governor of the Central Bank of the Dominican Republic, Hector Valdez Albizu, received the staff of the International Monetary Fund that are preparing for the upcoming visit by the IMF mission. The meeting served as a platform for the governor to present some of the government’s accomplishments regarding the national economy.
Valdez noted that GDP growth was at 5% for 2024, making it one of the highest in Latin America, and inflation was among the lowest, except for the countries that operate a dollarized economy.
The employment numbers are up, and the level of formal employment also improved. However, there still are more persons employed in the informal sector (54.8%) then in the formal, tax-paying, sector.
And, according to government numbers, inflation had been held in check for the previous 15 month period.
For Valdez, another important feature for the overall picture of the Dominican economy is the fact that the prime rate used by the Central Bank was lowered by 125 base points during 2024 along with other steps taken to allow the economy to move smoothly and promote such activities as housing construction.
Governor Valdez also mentioned that the budget deficit would be met through foreign investment, estimated to be about US$4.7 billion.
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El Caribe
17 March 2025