Economy May 17, 2022 | 7:25 am

Focus on inflation and debt, IMF tells Dominican Republic

Santo Domingo.-.The International Monetary Fund (IMF) team that completed a visit to the Dominican Republic last week yesterday published its conclusions, among which it recommends that, in the short term, the country’s policy priorities should seek to guarantee the return of the inflation rate to the target range and maintain a downward trajectory in public debt, while supporting the vulnerable population against the impact of global shocks.

In a statement published yesterday, the mission reiterated its assessment that the local economy “has shown a vigorous recovery after the pandemic, despite global factors that have generated challenges in terms of inflation” and that it has shown “remarkable resilience based on appropriate policies, including the support of monetary policy.”

However, he indicated that “the pace of the monetary policy adjustment cycle should depend on the evolution of internal and external economic indicators, with the aim of keeping inflationary expectations anchored and safeguarding the well-earned credibility of the inflation targeting regime.”

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Brien
May 17, 2022 9:35 am

“downward trajectory in public debt” . . . then how are the politicians supposed find monies to steal? And how are they supposed to keep payrolls inflated with their no-show relatives? C’mon IMF, stop making sense! We only want you to loan us money, not to tell us how to handle our finances.

Paul Tierney
May 17, 2022 10:40 am

The IMF is part of the problem. It seems whenever the country needs a loan the IMF comes knocking on the door. It does not matter how much debt the country has, it always qualifies for a loan from the IMF. So what does the country have? It’s more debt ! The more debt a country has makes it vulnerable to predator nations seeking geopolitical advantages through proposals of debt assistance in exchange for access to country resources. Lands / Ports ?

Peter Harris
May 17, 2022 6:36 pm
Reply to  Paul Tierney

China …..

Felix Arroyo
May 18, 2022 12:56 am

Everyone in DR knows that debt means loss of sovereignty (recall 1916). DR has not learned the lesson. With imports, DR is trying to destroy its local means of production and the combination of dependency and debt surrenders the nation’s will to the foreigners. Self sufficiency, and not trying to live a middle class lifestyle, should be the aim. Do not develop taste for foreign goods!