NewsWhore
04-01-2011, 06:10 PM
Central Bank Governor Hector Valdez Albizu defended the current economic model in the DR. In a speech at the commemoration of the 31st anniversary of the Santiago Central Bank office, Valdez disputed recent business sector statements that the model has run its course, that it is exclusionary and needs to be replaced.
Valdez says that what is needed is to execute actions aimed at reorienting, expanding, diversifying and improving the existing model. He said there is evidence that the present model has generated jobs, reduced poverty and inequality.
Valdez spoke of the rapid recovery of the Dominican economy post-crisis, how macro-economic stability has been maintained, inflation has been controlled and there is relative stability in the exchange rate and high economic growth above the Latin American average. He said this has been recognized by international organizations. He said that studies at the Central Bank indicate the exchange rate is adequate. He said the national workforce survey showed that between April 2004 and October 2010 some 589,003 new jobs were generated, despite adverse international conditions. He said unemployment has declined from 19.7% in October 2004 to 14.1% in October 2010.
He said the creation of informal jobs is typical in Latin America and the Caribbean. He said the informal jobs level of the DR at 56% is below Bolivia, Colombia, Peru, Ecuador and Honduras and similar to levels in Brazil, Mexico and Venezuela. He estimated 700,000 Dominicans could no longer be categorized as poor over the same period.
More... (http://www.dr1.com/index.html#2)
Valdez says that what is needed is to execute actions aimed at reorienting, expanding, diversifying and improving the existing model. He said there is evidence that the present model has generated jobs, reduced poverty and inequality.
Valdez spoke of the rapid recovery of the Dominican economy post-crisis, how macro-economic stability has been maintained, inflation has been controlled and there is relative stability in the exchange rate and high economic growth above the Latin American average. He said this has been recognized by international organizations. He said that studies at the Central Bank indicate the exchange rate is adequate. He said the national workforce survey showed that between April 2004 and October 2010 some 589,003 new jobs were generated, despite adverse international conditions. He said unemployment has declined from 19.7% in October 2004 to 14.1% in October 2010.
He said the creation of informal jobs is typical in Latin America and the Caribbean. He said the informal jobs level of the DR at 56% is below Bolivia, Colombia, Peru, Ecuador and Honduras and similar to levels in Brazil, Mexico and Venezuela. He estimated 700,000 Dominicans could no longer be categorized as poor over the same period.
More... (http://www.dr1.com/index.html#2)