Economy October 15, 2021 | 12:02 pm

Remittances, a Dominican lifeline

Santo Domingo.- People who send remittances to the Dominican Republic do so to meet the needs of their families such as food, studies and medicine, and to create savings for a possible retirement in the country.

In addition, many of the Dominicans abroad invest in real estate projects in the country to increase their income and create a “cushion” for when they come on vacation.

“My husband has been in the United States for five years. He sends us a few dollars to pay for the apartment, food and studies for the two boys. I try to sell some little things to have another entry,” says beneficiary Margaret Ortiz to Diario Libre.

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Aly
October 16, 2021 11:58 am

That means the Dominican Republic can not stand alone economically. What would happen to the people of the Dominican Republic without remittances?

felix the cat
October 22, 2021 11:39 am
Reply to  Aly

Same fear mongering was told about turism, the country needs turism!!! they said- and look now- almost 2 years without tourists and guess what ? we are still here and doin fine.

Last edited 1 month ago by felix the cat
Miguel
October 16, 2021 1:10 pm

It’s only a part of the equation. We aren’t exactly known for being hardworking people. We can do so much better, be responsible citizens, and formalize labor to not depend so much on family in the states.

Miguel Cuevas
October 17, 2021 10:06 am
Reply to  Miguel

You don’t sound Dominican. That statement is so far off.

Michael Brisseau
October 17, 2021 6:24 pm

I have visited the RD a few times. I have seen with a few friends that have taken me to visit family in the campo or barrios sin gringos. COVID shut down the informal economy and it has still not recovered. Those that are receiving remittences are keeping there heads above water because there is little goverment support.

Sts
October 18, 2021 7:07 am

COVID didn’t shut down the economy. The government did.

Tony
October 18, 2021 11:10 am

I live in the Dominican Republic.
and let me tell you the people that receive money, live much better then the senders do!
Few people have ambition and get very lazy ,because they know money is coming, trust me when I say they party the money away.
Some others have a few people sending them cash ,at a time secretly.
I was one of those cash sending fools from the USA.
The story’s I hear just to fool the senders into sending more money is incredible.
I did some investigative work out here and WOW faithfulness is out the door.