Finance

free diary photo Santo Domingo.- Ramón Pérez Fermín, Vice Minister of Commerce of the Ministry of Industry, Commerce and MSMEs (MICM) of the Dominican Republic, believes that the COVID-19 pandemic accelerated the adoption of e-commerce as a replacement for cash payments throughout the region. The pandemic increased reliance on digital payment methods for both consumers … Read more

Santo Domingo.- The Minister of Industry and Commerce, Víctor Ito Bisonó, states that the Dominican side of the border with Haiti is open to trade, but they are waiting for the Haitian government to reciprocate. Bisonó does not have control over the decision of whether or not Haitian goods cross the border. However, he notes … Read more

Photography by Burak The Weekender – Pexels.com BY JOAQUIN BAMRUD The Dominican Republic has replaced Ecuador as the seventh largest economy in Latin America, according to a Latinvex analysis of the latest data from the International Monetary Fund (IMF). The IMF predicts that the Dominican Republic will also maintain that position during the next five … Read more

In response to the disruption of trade with Haiti since mid-September, poultry farmers have increased efforts to find new markets for their products, particularly eggs. They have successfully shipped 1,036,800 units to destinations such as Aruba, Guyana, Martinique, Saint Martin, and Cuba in three weeks. However, this action has not fully satisfied the surplus Haitian … Read more

Santo Domingo.- The Minister of Agriculture, Limber Cruz, proudly announced that the Dominican Republic produces more than 100% of the rice consumed in the country. This amounts to around 14.5 million quintals annually. The self-sufficiency of rice production not only meets national demand but also supports the livelihoods of over 30 thousand producers in 22 … Read more

Santo Domingo.- During the International Seminar “Labor and Tax Business Perspectives 2024”, organized by Tax & Labor, Bacilio Sánchez, representative of the tax area for the Dominican Republic and former president of the Institute of Accountants of the Dominican Republic, addressed the complexities of the country’s tax system. Sánchez expressed concern about the tax collection … Read more

Santo Domingo.- The Dominican Republic received $10.3 billion in remittances in 2022, ranking third in Latin America and the Caribbean. Guatemala received $18.1 billion (12.4% of the total), and Mexico, leading with $61.1 billion (41.9%). India is the only country that received more remittances than Mexico. The region received a total of $146 billion in … Read more

Santo Domingo. On Friday, the US Embassy in Santo Domingo made a generous donation to the Emergency Operations Center (EOC). The donation includes four command tents equipped with a minimum of 135 mobile stretchers, blankets, and sheets. Patricia Aguilera, Chargé d’Affaires of the United States Embassy in the Dominican Republic, emphasized the strong ties of … Read more

In the economy of the Dominican Republic, certain mechanisms hinder income distribution in boom times, with the richest 1% accumulating wealth. Social inequality has become ingrained in the Dominican economy, as stated by Rosa Cañete Alonso in a special publication by the Academy of Sciences featuring the work of thirteen economists covering various topics. Cañete … Read more

PUNTA CANA. The proposal of Mexican magnate Carlos Slim, who was in favor of working hours being 12 hours a day and three times a week and that retirement be at 75 years of age, has disappointed many. Slim presented the implementation of a twelve-hour work day, three days a week, and the delay of … Read more