SANTO DOMINGO.-The Dominican Institute of Appraisers (ITADO) highlighted the institutional progress and the continuous increase in appraisals in the Dominican Republic during 2023.
Fernando Ramírez, president of ITADO, indicated that “the appraisals allow the approval of loans for some RD$110 billion at interest rates from 9% per year, which boosts the productive sectors, construction and small businesses.”.
“Our work strengthens the national economy, accelerating the pace of private credit expansion, which shows a year-on-year growth of 17% at the close of August 2023,” Ramírez highlighted.
Monetary authorities have highlighted the work of ITADO, emphasizing the association's contribution to economic stability through fair market valuation of goods and services, according to a press release from the organization.
"The increase in enrollment and service requests from appraisers demonstrates the consolidation of trust among the Dominican people and national financial institutions," the document states.
It highlights the remarkable presence of the organization at the XXXVII Pan-American Valuation Congress held in Paraguay with a representation of more than 40 members, where it presented to the Dominican embassy a management plan for valuation services to foreign investors.
"The institution continues to strengthen its leadership in the Pan-American Union of Appraisers' Associations (UPAV), earning the respect of the board and colleagues in the region.".
José Alberto Beras, former president of UPAV, highlighted the importance of the International Day of the Pan-American Appraiser, which is commemorated on December 13, and emphasized the significance of membership in the Pan-American Union of Valuation Associations (UPAV).
ITADO emphasizes that it offers continuous training and specialization through various programs, as well as the opportunity to participate in national and international refresher events and certifications.
At the ceremony on December 13, several degrees were awarded to appraisal professionals who completed master's degrees and specializations in Valuation and Multipurpose Cadastre at the University of Jaén, Spain, with which ITADO has inter-institutional cooperation agreements.
Similarly, ITADO members were recognized for their professional careers and meritorious historical work. They enjoyed a luncheon with a live orchestra and raffles in a convivial atmosphere during the Christmas season.
The Dominican Institute of Appraisers is the only organization of appraisal professionals that has been offering its business and personal services since 1975.
