Economist Frederic Emam Zade suggests that the government follow in the footsteps of the profits of all those who are benefiting from the present economic crisis in the shortest time possible and at the lowest cost possible. With a minimum amount of government intervention, he says, they must reach as many people as possible.
\nHe says that the winners from the peso?s rapid decline are those residents who had previously bought dollars which are now worth double what they were before. Emam Zade estimates that 6 million people have combined savings of US$9 billion, or RD$150 billion, more.
\nExporters of goods and services also gained, earning approximately US$8 billion a year, which is now worth RD$140 billion more.
\nSimilarly, there are 800,000 Dominicans who receive regular remittances from abroad to the collective tune of US$2 billion. These remittances now net them RD$35 billion more than they did previously.
\nAlso benefiting from the crisis are those who have investments abroad, reside here and spend in pesos.
\nIn conclusion, Emam Zade explains that about two million Dominicans fall into the above categories, and who, with the duplication of the price of the dollar in terms of pesos, are earning RD$325 billion more with the increase in buying power of their dollars while losing in inflation about 20%.
\nAccording to the renowned economist, these people are now our most dynamic market and need to be the targeted by the companies that have lost their niches. He said that as these companies fine-tune their marketing strategies in sync with these profiteers, the economic recovery can begin.
\nSays Emam Zade: ?We have the most capable businesspeople in Central America and the Caribbean, but we need a governor with vision and a coherent government team that knows its mission. If we can achieve this, there is no stopping us.? <\/p>\n","protected":false},"excerpt":{"rendered":"
Economist Frederic Emam Zade suggests that the government follow in the footsteps of the profits of all those who are benefiting from the present economic crisis in the shortest time possible and at the lowest cost possible. With a minimum amount of government intervention, he says, they must reach as many people as possible. He … <\/p>\n