Economy March 18, 2020 | 12:59 pm

Central Bank allocates US$1.0B as part of stimulus package

H. Valdez, 2nd from l.

Santo Domingo.- Dominican Republic’s Central Bank will allocate RD$10 billion for loans to households, small businesses and retailers, aimed at meeting the demand of the productive sectors and Dominican households to deal with the spread of COVID-19.

Central banker, Héctor Valdez Albizu, said that RD$12.3 billion will also be channeled to the productive sectors, mainly tourism and exports, at rates in all cases of no more than 8%.

He added that in national currency liquidity of over US$1.01 billion will be made available to financial institutions to be used for those measures.

Paychecks

In the Central Bank press conference Wed., finance minister Donald Guerrero revealed that the Govt. plans to pay all its workers in advance, as a way to stimulate the economy.