External Debt in Dominican Republic
Dominican Republic - External Debt
The economy contracted 7.2% in Q3 according to preliminary data, much milder than Q2’s 16.9% collapse. The softer drop was likely due to an incipient recovery in tourism following the reopening of borders in July. Moreover, remittances surged in the quarter as the U.S. labor market recovered, which should have buttressed private consumption. However, the economic panorama was still downbeat: The hotels, bars and restaurants subsector fell, as visitor arrivals were still down sharply year-on-year, while the retail and transport sectors also declined. Turning to Q4, momentum should be improving, with visitor arrivals likely up from Q3. However, the extension of the curfew in mid-October will continue weighing on domestic activity, while Haiti’s decision to impose a USD 800 fee on the Dominican Republic’s exports will hurt the external sector—Haiti is the country’s second most important trading partner.Dominican Republic - External Debt Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 37.5 | 37.3 | 39.0 | 39.6 | - |
Dominican Republic External Debt Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 52.96 | 0.80 % | Jan 01 |
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Economic News
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Dominican Republic: Central Bank keeps rates steady in April
April 30, 2021
At its end-April meeting, the Central Bank decided to keep the policy rate at 3.00% for the eighth month running.
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Dominican Republic: Economic activity records quickest growth since October 2013 in March
April 28, 2021
Economic activity expanded 10.6% year-on-year in March (February: +1.1% yoy).
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Dominican Republic: Inflation hits fresh multi-year high in March
April 15, 2021
Consumer prices rose 0.60% in March over the previous month, a smaller increase than the 0.68% rise seen in February.
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Dominican Republic: Central Bank keeps rates steady in March
March 31, 2021
At its end-March meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the seventh month running.
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Dominican Republic: Economic activity notches quickest growth since February 2020 in February
March 30, 2021
Economic activity expanded 1.1% compared to the same month a year earlier in February, which contrasted January's 1.8% decrease.
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