IMF: Dominican Republic’s economy will grow 5.5%

Santo Domingo.-  The International Monetary Fund (IMF) expects Dominican Republic’s economy will grow 5.5 percent this year but warns it could face adverse conditions stemming from a slowdown in the world economy, “although domestic demand could be stronger than expected, supported by a solid growth of income and credit.”

The IMF mission issued its report at the conclusion of the Article IV mission of 2019 for the Dominican Republic, in which it affirms that to maintain the robust economic performance “a new push is needed for the reforms to face the pending structural obstacles and promote the country towards a more rapid convergence of income to levels of developed countries.”

It stressed that the pending challenges include strengthening the supervision of financial intermediation cooperatives along with the banking system and continuing with the transition to international banking regulations and accounting standards.