Economy July 12, 2021 | 7:41 am

Dominican Republic is LatAm’s debt king

Photo By: Deborah W. Campos, World Bank

Santo Domingo.- The Dominican Republic was the Latin American country that increased the public debt the most during 2020, accumulating more than 16 percentage points with respect to the Gross Domestic Product (GDP), a figure that represents US$44.6 billion, according to the Economic Commission for Latin America and the Caribbean (ECLAC).

With that figure, the country placed the level of debt above economies such as Brazil, Argentina or Colombia.

The data is contained in the report “Fiscal Outlook of Latin America and the Caribbean 2021: the challenges of fiscal policy in the transformative recovery post-COVID-19.”

It states that the Dominican debt increased from 39.6% of GDP in 2019 , to 55.9% the following year, which is equivalent to an increase of 16.3 percentage points in