The coordinator of the School of Economy at the Instituto Tecnologico de Santo Domingo, Rafael Espinal, alerted that the rising government foreign debt and the rising prices of fuel could bring about an unmanageable economic crisis that would require the intervention of the International Monetary Fund (IMF).
Intec recently presented its fourth report on the Dominican Economy. Espinal and Roxana Brady, Dean of Economics, spoke of their concerns. They highlighted the recent unusual increase in depreciation of the Dominican peso in the first half of the year by 2.2%. They mentioned this could force the Central Bank to inject international reserves accumulated due to the placement of sovereign bonds.
The increase in the price of fuel could mean an additional US$700 million in government expenditures.
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Listin Diario
10 May 2018
