2005News

Citibank sees DR economy in right direction

Maximo Vidal Espaillat, the general manager of Citibank in the Dominican Republic, was positive in his outlook for the country. He pointed out that over the last year there has been a sustained recovery and that the exchange rate has been steady. Citibank has assets of over RD$7.1 billion in the Dominican Republic. Speaking with economic reporters from Listin Diario, Vidal Martinez said that the decisions taken by the authorities over the past year have gone in the right direction and Citibank, at least, feels that the government is committed to maintain economic stability. He emphasized the solidity of the exchange rate over the past few months, and the increased reserves in the Central Bank, as well as the positive indicators that have raised confidence levels among investors. Vidal Martinez was especially emphatic in his praise of the new supervisory measures put into place by the Superintendent of Banks, since they tended to produce more transparency in the banking sector.