The Superintendent of Pensions Joaquin Geronimo said that as of 31 March the Pension Funds totaled more than RD$210,267 billion. This is equivalent to 9.1% of the Gross Domestic Product (GDP). He said that 50% of those funds have been deposited in government bonds at the Central Bank and another 30% are deposited in commercial banks. Geronimo said that with the evolution of the capital markets there would be more options for channeling resources to strategic sectors. He said the objective is to reduce the pension funds deposited in Central Bank titles to 25%. Geronimo was speaking at the American Chamber of Commerce monthly luncheon event.
Maximo Vidal, president of the American Chamber of Commerce, said that countries that make the most of internal savings in pension funds to finance private sector investment projects or infrastructure, with public-private alliances, achieve significant economic growth and social improvements.
www.eldia.com.do/nacionales/2013/4/24/112844/Pensiones-son-9-del-PIB
www.hoy.com.do/economia/2013/4/24/477371/Fondospensiones-se-usan-en-sectores-productivos