US$674.5M from bank reserve boosts credit: Central Bank

Santo Domingo.- The Central Bank on Thurs. told the economic agents and the public that its recently adopted monetary policy measures, which include the release of RD$34.4 billion (US$674.5 million) from the bank reserve and the reduction of 50 base points of the monetary policy rate, have “positively impacted the evolution of credit to the private sector in national currency.”

It said that as of July 24 RD$12.5 billion of the reserve have been disbursed, or more than 36% of the total released, distributed to the productive sectors.

“These resources have been channeled to Manufacturing (RD$3.3 billion), Commerce and SME (RD$2.9.5 million), Agriculture (RD$2.4 billion), Consumption (RD$1.9 billion), Export (RD$1.7 billion) and Acquisition sectors Housing (RD$223 million, RD$110.1 million for low-cost housing and RD$112.9 million for housing up to RD$8 million),” the Central Bank said.

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