IMF appoints Michael Perks as new mission chief for the Dominican Republic

Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) received an International Monetary Fund (IMF) delegation to introduce Michael Perks as the institution’s new mission chief for the Dominican Republic.

BCRD Governor Héctor Valdez Albizu met with André Roncaglia, IMF executive director for Brazil and president of the Constituent Assembly representing countries that include the Dominican Republic, as well as outgoing mission chief Ricardo Llaudes and Perks.

Roncaglia highlighted the importance of maintaining close cooperation with the Dominican Republic, citing the country’s macroeconomic stability and performance in recent decades. Valdez Albizu thanked the outgoing mission chief for his coordination with the Central Bank and welcomed Perks, expressing confidence that collaboration between both institutions will continue to strengthen.

During the meeting, Valdez Albizu said the BCRD will maintain technical cooperation with the IMF, particularly in strengthening policy frameworks and improving the production of economic statistics.

Dominican economy

The Central Bank governor said that despite a complex international environment, the Dominican economy has performed better than expected and is projected to grow by around 4.5% in 2026, which he described as one of the highest growth rates in Latin America.

He attributed the performance to the resilience of exports, tourism, remittances, and foreign direct investment, which he said have contributed to exchange-rate stability. According to Valdez Albizu, the peso has appreciated by approximately 7% so far this year.

He also noted that inflation has been affected by higher global oil and fuel prices, temporarily exceeding the BCRD’s target range of 4% ± 1%. However, year-on-year inflation declined from 5.67% in June to 5.13% in August, and the Central Bank expects it to return to the target range during the final quarter of the year. Core inflation, he added, has remained within the target range.

Valdez Albizu also said the country’s financial system remains robust, well-capitalized, and profitable.

Perks congratulated Valdez Albizu on his recent reappointment and said the IMF mission will maintain a collaborative approach with the Dominican authorities to help preserve the country’s macroeconomic fundamentals and investment climate.