Standard & Poor’s boosts Dominican credit outlook

Santo Domingo.- The credit rating agency Standard & Poor’s (S & P Global) said Thursday that the credit outlook for the Dominican Republic rose from negative to stable due to “an impressive economic recovery” that has reversed the external deterioration caused by COVID- 19.

Standard & Poor’s highlights in its December 2 report that this improvement is a sign of the dynamism of the Dominican economy, compared to its peers with similar levels of development.

In addition, it points out that the evolution of the tourism sector is going much faster than expected, which is supported by the strong vaccination campaign against COVID-19. “This progress is evidenced by the growth in visitor arrivals to the country, which already exceed the levels that were registered in 2019, prior to the pandemic,” said the Ministry of Finance in the note that reports on the rating change.