British magazine “The Banker” has selected Central Bank Governor Hector Valdez Albizu as The Americas Region’s Central Bank Governor of the Year, for his contributions to the Dominican Republic’s economic recovery, as reported in El Caribe. The Banker editor Tom Blass said that a bad initial management of the crisis in the country together with an unfavorable macroeconomic scenario worldwide caused the country’s GNP to fall to 2%, and inflation to rise to high levels, the internal and external debt to increase enormously and the exchange rate to drop freely. Blass said that Valdez was appointed to lead the Central Bank and bring confidence back to foreign investors and savers. He stated that the award has double meaning as it is delivered by external evaluators based on the country’s performance and precise results that can measure with objectivity the work he has done. Attending the public function were Presidential Technical Minister Temistocles Montas, Finance Minister Vicente Bengoa, Banco de Reservas administrator Daniel Toribio, Msgr. Agripino Nunez Collado, and Banco Popular President Manuel A. Grullon, among others.
See:
http://www.thebanker.com/news/fullstory.php/aid/3633/…