NewsWhore
10-21-2008, 03:00 PM
Central Bank president Hector Valdez Albizu says that the DR has managed the international financial crisis well so far, adding that he is optimistic about the nation's economic future. Although the crisis has affected many countries, the DR has managed to maintain a level of macroeconomic stability. According to Valdez, the inflation rate for the DR will be at 13% at year's end.
In related news, economist Carlos Despradel says that the government needs to adopt measures to help the country withstand the crisis. He says the government is doing what is necessary to face the international fiscal crunch in the area of monetary policy. Despradel urged President Leonel Fernandez to tread with care, regardless of his continued optimism about the future of the economy. Despradel did welcome Fernandez's optimism, considering that fuel prices and food prices have dropped slightly, potentially saving the DR millions, but added that the Dominican economy is still highly dependent on US markets. He added that in 2009 the US economy could reflect 0% growth, which could affect tourism, remittances and trade in the DR.
More... (http://www.dr1.com/index.html#1)
In related news, economist Carlos Despradel says that the government needs to adopt measures to help the country withstand the crisis. He says the government is doing what is necessary to face the international fiscal crunch in the area of monetary policy. Despradel urged President Leonel Fernandez to tread with care, regardless of his continued optimism about the future of the economy. Despradel did welcome Fernandez's optimism, considering that fuel prices and food prices have dropped slightly, potentially saving the DR millions, but added that the Dominican economy is still highly dependent on US markets. He added that in 2009 the US economy could reflect 0% growth, which could affect tourism, remittances and trade in the DR.
More... (http://www.dr1.com/index.html#1)