Economy July 23, 2018 | 1:10 pm

Buy car in DR

No shortcuts to a stable dollar supply: Industries

B. Disla. Photo

Santo Domingo.-  Haina and South Region Industries Association president Bredyg Disla on Sun. said a stable dollar supply in the market won’t be achieved with short-term measures and urged structural policies with real long-term solutions.

She said the country’s great challenge is to increase exports, the influx of tourists and attract foreign investment to always have the dollars the Government and business demand to meet international commitments.

“Working on these three axes guarantees the best results, but to achieve them we need continuous, coherent public policies, public-private coordination and a business environment with predictable rules of the game and legal security,” Disla said.

She said in that way the benefits of an export economy could be felt in a few years, “which cannot be achieved from one moment to the next.”

The business leader said just like any monetary policy regulator in the world, the Central Bank acts correctly by injecting dollars into the market to stabilize the supply and avoid movements of the exchange rate not in keeping with the year’s monetary planning.

Disla noted, however, that the injection of dollars to balance supply with demand will only have short term effects, while cyclically the same scenario will be repeated: entrepreneurs and merchants on waiting lists in banks and the Central Bank maneuvering to supply the demand.

“It serves very little to wear ourselves down in criticizing the Central Bank, the exchange rate policy and the probable hoarding of dollars, because these are standpoints  that remain on the surface. The big challenge is to export more to have the dollars we need,” she said.

Comments are closed.