Finance

The opening of the United Nations Climate Change Conference (COP28) was marked by the announcement of a new loss and damage fund. This fund offers compensation to countries vulnerable to the climate crisis. The Dominican Republic is eligible for this fund, according to Vice Minister of Climate Change of the Ministry of the Environment, Milagros … Read more

Santo Domingo.- The Banreservas Cree Program recently selected five entrepreneurial projects that will potentially receive an investment of up to RD$4.2 million. These startups were chosen during the Demo Day of the tenth edition of the Pre-acceleration Program, where they presented their ventures before a jury of business experts. The selected projects, which competed against … Read more

Santo Domingo.- Fitch Ratings recently upgraded the Dominican Republic’s outlook from “BB-stable” to “BB-positive,” recognizing significant institutional advances and a consistent track record of solid economic growth. The credit rating agency highlighted the Dominican government’s efforts to strengthen governance, including greater budget transparency, improvements in internal audits, improvements in the judicial system and political stability. … Read more

Santo Domingo.- In the first ten months of this year, tourism revenues in the Dominican Republic, mainly from airport departure taxes and tourist card fees, reached approximately 12.4 billion pesos. This exceeds the revised budget target of P12.3 billion set for the end of the year. In October alone, these taxes contributed around one billion … Read more

Santo Domingo.- Since its inception in 2008, the Economic Partnership Agreement (EPA) between the Dominican Republic and the European Union has significantly boosted bilateral trade. In the last 15 years, trade in goods between the two regions has increased by 231%, reaching 4,154 million euros in 2022. Dominican exports to European countries constitute 1,400 million … Read more

Santo Domingo.- The debt of the Central Bank of the Dominican Republic (BCRD) has expanded significantly since the start of the century, reaching $20,442 million dollars at the end of the third quarter of this year. According to the General Directorate of Public Credit, this figure represents 17% of the gross domestic product (GDP). This … Read more

Santo Domingo.- Patricia Aguilera, charge d’affaires of the United States Embassy in the Dominican Republic, expressed optimism about the business environment in the country, emphasizing its growth potential. Speaking at the traditional Thanksgiving lunch of the American Chamber of Commerce of the Dominican Republic (Amchamdr), Aguilera highlighted the shared commitment between the two countries to … Read more

Santo Domingo.- Límber Cruz, Minister of Agriculture of the Dominican Republic, has estimated that the agricultural sector suffered preliminary losses of more than RD$4 billion due to the torrential rains that hit the country on Saturday, November 18. The natural disaster has left significant damage to several crops and at least 25 fatalities. The Government, … Read more

Santo Domingo.- Foreign investors in the Dominican tourism industry highlight several key factors that contribute to their decision to invest, including the country’s natural beauty, its rich culture, legal certainty, and effective public-private collaboration. However, they also recognize the challenges the Dominican Republic faces in maintaining leadership in its tourism sector, especially compared to long-established … Read more

Santo Domingo.- Heavy rains over the recent weekend in the Dominican Republic have potentially caused more damage than the severe flooding and human loss experienced on November 4, 2022, according to insurance industry representatives. Franklin Glass, executive president of the Dominican Chamber of Insurers and Reinsureds (Cadoar), stated that although the exact extent of the … Read more