J.P. Morgan shows interest in expanding its investments in the Dominican Republic
The governor of the Central Bank, Héctor Valdez Albizu, received a visit from a delegation of J.P. Morgan, led by Carlos Aspillaga, executive director for the public sector in Latin America.
During the meeting, the international firm expressed its intention to expand its investments in the Dominican Republic, noting that, given its proven experience and on-the-ground studies, the Dominican economy is consolidating itself as one of the most resilient in the region, with firm macroeconomic fundamentals.
Within the framework of the correspondent relationship that both institutions have maintained for several years, the representatives of the international bank highlighted the country’s robust economic growth in June, which recorded a year-on-year expansion of 6.4%, bringing the first-half total to 4.5%.
In this context, they highlighted that their most recent estimates put Dominican gross domestic product (GDP) growth at around 4.5% by 2026. Regarding domestic prices, after inflation closed at 5.5% in July, below analysts’ expectations, they expect inflation to continue moderating to around 4.2% year-on-year.
In J.P. Morgan’s opinion, “the reliability shown by these data reaffirms our intention to expand our business in the country.”
Additionally, the executives shared their vision of the international financial markets, highlighting the high uncertainty and volatility resulting from the war between the United States (US) and Iran.
In this context, they pointed to the disconnect between fixed-income and equity markets, highlighting the recent rise in yields on 30-year US Treasury bonds to their highest level since 2007, reflecting expectations of fiscal deterioration and persistent inflation.
Governor Valdez Albizu highlighted “the resilience that the Dominican economy has shown in the turbulent international panorama, marked by episodes of high geopolitical and financial volatility.
He pointed out that despite this challenging environment, the Dominican Republic has sustained its pace of economic growth and preserved the stability and robustness of its key macroeconomic variables.
