Abinader says 80% of his administration’s loans were used to pay off opposition’s debt

Santo Domingo.- President Luis Abinader declared on Monday that 80% of the debt contracted under his administration has been used to pay or refinance commitments inherited from previous governments. He emphasized that his government is the only one in recent history to have reduced the national debt in relative terms, lowering it from 49.7% to 46.9% of GDP.

During his weekly press briefing La Semanal con la Prensa, Abinader responded to criticism from the Dominican Liberation Party (PLD), asserting that the opposition uses “absolute numbers” to misrepresent the country’s debt situation. He explained that debt must be analyzed in proportion to the size of the economy, as economic growth naturally increases fiscal needs.

The president compared the evolution of public debt under past administrations, noting that during Leonel Fernández’s government (2004–2012), it rose from 28.4% to 30.5% of GDP, and under Danilo Medina (2012–2020), it jumped to 49.7%. In contrast, he said his administration reduced it to 46.9% while maintaining macroeconomic stability supported by strong tourism, free zones, remittances, and foreign investment. Abinader concluded by reaffirming his commitment to transparent debt management and invited critics to “debate with data, not speeches.”