## Dominican Republic: Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Dominican Republic

_IMF Staff Country Reports, May 7, 2020_

## Source details

**Canonical URL:** [Dominican Republic: Request for Purchase under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Dominican Republic](https://www.imf.org/en/publications/cr/issues/2020/05/07/dominican-republic-request-for-purchase-under-the-rapid-financing-instrument-press-release-49400)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/05/07/dominican-republic-request-for-purchase-under-the-rapid-financing-instrument-press-release-49400/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/05/07/dominican-republic-request-for-purchase-under-the-rapid-financing-instrument-press-release-49400/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/05/07/dominican-republic-request-for-purchase-under-the-rapid-financing-instrument-press-release-49400/bundle-manifest.json)

## Bibliographic details
- Published: May 7, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513543109.002

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### Purpose and context
- Analyzes the Dominican Republic’s Request for Purchase Under the Rapid Financing Instrument (RFI).
- RFI intended to provide timely resources to mobilize for essential coronavirus disease 2019 (COVID-19)-related health expenditure and support to the vulnerable population.
- Pandemic has significantly weakened the Dominican Republic’s macroeconomic outlook for 2020 and created financing needs requiring additional support.
- Authorities are also seeking support from other multilateral institutions.

### Macroeconomic and financial policy response
- Macroeconomic and financial policies have been accommodative in response to the pandemic.
- Temporary fiscal measures to accommodate higher public healthcare spending and targeted transfers to the most vulnerable are characterized as appropriate.

### Role and expected impact of IMF emergency assistance
- IMF emergency assistance under the RFI is expected to help provide the much-needed resources to address urgent balance of payments needs.
- RFI support is expected to help support essential COVID-19-related health expenditure.
- Support of other international financial institutions and development partners is described as crucial to:
  - close the remaining financing gaps,
  - ease the adjustment burden,
  - preserve the Dominican Republic’s dynamic economic growth.

### Subjects and keywords
- Subjects: COVID-19, Economic sectors, Emergency assistance, Expenditure, Fiscal policy, Fiscal stance, Foreign aid, Health, Public sector
- Keywords: COVID-19, CR, Emergency assistance, Executive Board discussion, financing, financing gap, Fiscal stance, Global, headline inflation, inflation targeting framework, ISCR, monetary policy rate, Public sector, request, request for emergency, resource

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## Content in this bundle

- **1domea2020001 - Executive Summary**
  - [1domea2020001 - Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1domea2020001.pdf.md){rel="alternate" type="text/markdown"}
  - [1domea2020001 - Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1domea2020001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/05/07/dominican-republic-request-for-purchase-under-the-rapid-financing-instrument-press-release-49400_