IMF Staff Country Reports

Dominican Republic: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominican Republic

Publication Date:

June 22, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Supported by sound policies and positive spillovers, the Dominican Republic has staged an impressive recovery from the pandemic, cementing its place as one of the most dynamic and resilient economies in the Western Hemisphere. The strong recovery began moderating at the end of 2022 in response to tighter global financial conditions, lower global demand, and policy accommodation withdrawal, helping ease inflationary pressures. The current account deficit widened in 2022 to 5.6 percent of GDP and was mostly financed by Foreign Direct Investment (FDI) flows, with the country maintaining sound market access. The financial sector appears well-capitalized, liquid, and profitable.

Series:

Country Report No. 2023/225

Subject:

Commodities Economic sectors Electricity Inflation International organization Monetary policy Prices Public debt Public sector Revenue administration

Frequency:

regular