SANTO DOMINGO – The Governor of the Central Bank of the Dominican Republic (BCRD), Héctor Valdez Albizu; the Minister of Finance and Economy, Magín Díaz; and the Minister of Industry, Commerce and MSMEs (MICM), Eduardo Sanz Lovatón; met with representatives of the Association of Multiple Banks of the Dominican Republic (ABA), headed by the Chairman of its Board of Directors (JD), Christopher Paniagua, to review the Dominican economy and analyze the challenges that the ongoing conflict in the Middle East poses for our country, which continues to impact an uncertain, complex and turbulent environment, as well as the volatility of oil prices.
Valdez Albizu explained to those present “the importance of the robustness of the Dominican financial system, which is recognized in Central America, the Caribbean, Latin America and the main risk rating agencies and international organizations, as a determining factor of confidence when facing international instability and uncertainty, at a time when macroeconomic stability is necessary to strengthen growth rates and attract foreign direct investment (FDI) to the country, among other indicators that place the Dominican Republic as one of the most reliable and profitable destinations on the continent for investment.”.
In that regard, the governor mentioned that “foreign direct investment (FDI) reached US$3,276.5 million at the close of the first half of 2016, an increase of US$233.4 million (7.7%) compared to the same period of the previous year. He also noted to the participants that approximately US$2,194.6 million, roughly two-thirds of the flows for this purpose, correspond to new capital contributions from investors, highlighting that US$1,604.6 million was received for this purpose in the April-June quarter.”.
Valdez Albizu specified that the monthly indicator of economic activity (IMAE) corresponding to June 2026 reflected a year-on-year growth of 6.4%, the highest recorded during the current year, accumulating an increase in the first half of 4.5%, more than doubling that recorded in 2025.
He added that “financial intermediation, insurance and related activities experienced a year-on-year growth of 13.1% from June 2025 to June 2026, with this result influenced by the 9.1% expansion of credit directed to the private sector in national and foreign currency, equivalent to an additional RD$217 billion compared to June 2025.”.
Finally, he stated that “the Dominican economy has solid foundations, a stable financial system and a resilient private sector which, together with the coordination of monetary and fiscal policies, will allow it to face the challenges of the uncertain, complex and turbulent external environment.”.
Firm steps towards achieving balance
For his part, Minister Magín Díaz stated that the Dominican Republic is taking firm steps toward achieving a more balanced budget and designing a fair tax system that, with its revenues, can finance public spending and distribute wealth as equitably as possible, with the well-being and quality of life of Dominican citizens in mind. To this end, a robust financial system is essential, one that provides guarantees in crucial areas such as high standards of technology and digitalization.
Meanwhile, Minister Sanz Lovatón indicated that his ministry is closely monitoring the repercussions of US tariff policies and their direct impact on Dominican imports, as well as the volatility observed in oil prices on international markets. Therefore, together with the Ministry of Finance and Economy, and with the collaboration of the Central Bank of the Dominican Republic (BCRD), the government is evaluating options to find alternatives that will help address this instability in fuel prices.
Sanz Lovatón indicated that the priority will be strengthening foreign trade by increasing the flow of exports through strategies that will make the Dominican Republic an indispensable nearshoring hub for potential markets. He took the opportunity to urge the financial sector to continue working together to preserve the competitiveness of the Dominican economy in the face of this complex international environment.
For his part, Christopher Paniagua, CEO of Banco Popular Dominicano and Chairman of the Board of Directors of the ABA, was very pleased “with the resilience shown in the Dominican Republic in the face of geopolitical risks, based on pillars such as growth, price stability and foreign exchange earnings, and it can be established that the common denominator of these achievements is based on one strength: trust.”.
Present at the meeting alongside Paniagua were the CEOs of Banco de Reservas: Leonardo Aguilera; Banco Santa Cruz: Fausto Pimentel; Banco Vimenca: Victor Mendez Saba; Banco BHD: Fidelio Despradel, CEO, and Steven Puig, President; Banco López de Haro: José Antonio Rodríguez; Banco BDI: Juan Carlos Rodríguez, Executive Vice President; Banco Ademi: Andrés Bordas; Citibank: Cristian Lazarus; Scotiabank: Jabar Singh; Banco Caribe: Edgar del Toro; Banesco: Juan Carlos Carneiro; JMMB Bank: Luis Bougart; Banco Lafise: Bryan Paniagua; and Qik Banco Digital: Arturo Grullón
In addition to the Ministers of Finance and Economy, Magín Díaz, and of Industry, Commerce and SMEs, Sanz Lovatón, Governor Valdez Albizu was accompanied by the Vice Governor, Clarissa de la Rocha de Torres; the manager, Ervin Novas Bello; the deputy manager of Monetary, Exchange and Financial Policies, Joel Tejeda; the economic advisor to the Governor, Julio Andújar; the deputy manager of Monetary Programming, Joel González; the director of Regulation and Financial Stability, Carlos Delgado; and Ángel González and Yilmary Rosario, director and consultant of Payment Systems, respectively.
