In presenting its impressions during the closing of its Article IV visit, the organization's Mission highlighted the climate of optimism expressed by the private sector.
SANTO DOMINGO – The Governor of the Central Bank of the Dominican Republic (BCRD), Héctor Valdez Albizu, held the closing meeting of the Article IV Mission of the International Monetary Fund (IMF), headed by its Executive Director for Brazil and Chairman of the Chair of countries to which the Dominican Republic belongs, André Roncaglia, in order to offer him a brief presentation of his impressions after the meetings that they have held for two weeks with institutions of the public and private sector, the financial system and civil society of the Dominican Republic.
The head of the Mission, Ricardo Llaudes, explained to the governor that “a noteworthy and common concept in the development of our visits is that of social peace as a model for the country, as well as the search for consensus among different sectors, which is very special in the Dominican Republic, since, combined with robust monetary policies and economic stability, it leads to high investment flows.”.
Llaudes also highlighted “the sense of optimism expressed by various representatives of the private sector in their meetings, leaving behind a feeling of uncertainty. This has been largely due to the policies implemented by the Central Bank of the Dominican Republic (BCRD) to support liquidity, the effects of which are already being felt. A significant drop in market rates is observed, which has had repercussions in the productive sectors. All of this is happening in a context where inflation has remained anchored within the target range for three consecutive years.”.
According to the press release, the head of the mission noted that "the private sector's expectation of increased public investment, already reflected in the supplementary budget, also foreshadows a future vision with a clear prospect of further strengthening growth.".
Llaudes also indicated that "the success of combining efforts in fiscal and monetary policy will result in progress in consolidating favorable indicators, which will have repercussions in the medium and long term.".
Valdez Albizu
Valdez Albizu considered the mission's diagnosis "very accurate," and highlighted the growing investment climate and economic stability shared by the sectors consulted. He added that "in the future, the Central Bank, which values the IMF's always valuable support during times of international uncertainty, will require the organization's technical and guidance advice, especially regarding the implementation of new measures that strengthen current strategies, deepen reforms, and open new avenues for growth.".
He emphasized the importance of coordinating fiscal and monetary policies to guarantee the maintenance of macroeconomic stability, social peace, legal security, and the favorable investment climate that prevails in the country.
The IMF Article IV mission also included Pamela Beatriz Madrid, senior economist; Nathaniel Arnold, representative; and Gerardo Peraza, resident representative in Central America, Panama and the Dominican Republic.
The governor 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 deputy manager of Operations, Liselotte Reyes; the advisor to the Governor, Julio Andújar Scheker; the deputy manager of Regulation and Financial Stability, Máximo Rodríguez; the deputy manager of the Department of Monetary Programming and Economic Studies, Joel González; and the deputy manager of the International Department, Brenda Villanueva; and the directors of National Accounts, Treasury and Regulation and Financial Stability, Elina Rosario, José Perdomo and Carlos Delgado, respectively.
