Alaver offers guidance on the economic prospects for Cibao Central

Santo Domingo.- ALAVER, Asociación de Ahorros y Préstamos, organized a corporate lunch focused on discussing the economic prospects for the second half of 2023, specifically focusing on the Cibao Central region. The event aimed to provide valuable insights to ALAVER’s business clients.

Renowned economist Raúl Ovalle, the managing partner of Analytica, delivered a comprehensive analysis of the economic situation in the northern part of the country, taking into account the national and international context and the challenges it faces. His presentation provided valuable guidance to attendees.

José Francisco Deschamps, the executive vice president of ALAVER, emphasized the importance of keeping associates well-informed to enable them to make informed financial decisions for their businesses and maintain sustainable growth.

As ALAVER approaches its 60th anniversary, the association remains committed to ensuring that its associates are aware of the economic and financial environment. Deschamps highlighted the positive rating of A and B, as well as the absence of default, for the companies associated with ALAVER. This success in the sector reflects the commitment to maintaining a healthy portfolio.

One of the key topics presented by Ovalle was the expected slowdown in the global economy in the coming years. However, the Dominican Republic is projected to continue demonstrating solid performance, with an estimated growth rate of 4% in 2023. This growth rate would position the country as one of the three fastest-growing economies in the Latin American region.

Ovalle also discussed the significant growth in loan portfolios in sectors such as construction, real estate, commerce, consumption, and the automotive industry. These sectors have outperformed the national average as of April this year.

Ovalle highlighted potential risks in 2023, particularly in a pre-electoral year. These risks include the deepening sociopolitical crisis in Haiti and the proposal for early withdrawals from individually funded pension systems. He stressed the importance of public policymakers and key players in the private sector investing in strengthening their reputational risk management frameworks. This investment is crucial for attracting and retaining investment in the country.

The lunch provided an opportunity for participants, including prominent associates from the business banking segment, to analyze, discuss, and share ideas about the future of the economy and business in the Cibao Central region.