NewsWhore
05-09-2012, 03:40 PM
According to the most recent publication by the World Economic Forum 2011, "Global Competitiveness Report 2011-2012", the Dominican financial sector has reached a unique level of strength even when measured against not only Latin America but also the US and the club of rich nations of the Organization for Cooperation and Economic Development (OECD). This sector was one of the few competitive indicators in which the nation had advanced, according to Alejandro Fernandez, in a commentary in El Dia.
In the report the DR scored 5.7 for the solidity of the banking sector compared to the average of Latin America at 5.5, the OECD nations at 5.3, and the United States at 4.8.
The scale goes from one to seven, where one signifies that the Banks are insolvent and require state intervention and seven means that they are the healthiest.
Alejandro Fernandez, a financial analyst from the banking consultancy firm Beta Metrix S.A., told El Dia that the solidity of the banking sector was an exceptional success for the financial system of the Dominican Republic. He felt that the improvement in the position of the DR was due to the deterioration of the financial markets in the developed world, the strengthening of the banking sector in the DR since the introduction of the Monetary and Financial Law in 2002 and the reform of the banking sector which started in 2003 with the Stand-by arrangement signed by the International Monetary Fund.
Daris Javier Cuevas from the Banking Supervisory Body said that when the last Program for the Evaluation of the Financial Sector (FSAP) was carried out in 2009, the DR complied with all 25 of the Basic Principles of Effective Bank Supervision, which was an achievement as in 2001 the country did not comply with even one.
http://eldia.com.do/nacionales/2012/5/8/81989/Solidez-bancaria-dominicana-es-superior-a-paises-desarrollados
More... (http://www.dr1.com/index.html#6)
In the report the DR scored 5.7 for the solidity of the banking sector compared to the average of Latin America at 5.5, the OECD nations at 5.3, and the United States at 4.8.
The scale goes from one to seven, where one signifies that the Banks are insolvent and require state intervention and seven means that they are the healthiest.
Alejandro Fernandez, a financial analyst from the banking consultancy firm Beta Metrix S.A., told El Dia that the solidity of the banking sector was an exceptional success for the financial system of the Dominican Republic. He felt that the improvement in the position of the DR was due to the deterioration of the financial markets in the developed world, the strengthening of the banking sector in the DR since the introduction of the Monetary and Financial Law in 2002 and the reform of the banking sector which started in 2003 with the Stand-by arrangement signed by the International Monetary Fund.
Daris Javier Cuevas from the Banking Supervisory Body said that when the last Program for the Evaluation of the Financial Sector (FSAP) was carried out in 2009, the DR complied with all 25 of the Basic Principles of Effective Bank Supervision, which was an achievement as in 2001 the country did not comply with even one.
http://eldia.com.do/nacionales/2012/5/8/81989/Solidez-bancaria-dominicana-es-superior-a-paises-desarrollados
More... (http://www.dr1.com/index.html#6)