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Dominican Republic: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1996: Issue 058
Language:
English
Publication Date:
08 Jul 1996
DOI:
https://doi.org/10.5089/9781451811261.002
ISBN:
9781451811261
ISSN:
1934-7685
Pages:
117
Keywords:
ISCR; CR; U.S. dollar; private sector; current account; foreign exchange; exit tax; free market; central bank of the Dominican Republic; oil price differential; gross revenue; excess reserves; Dirección de Tourism de la República Dominicana; Dirección de Tourism; world oil price; national budget; c.i.f. oil price; central bank certificate; la República Dominicana; Agricultural commodities; Oil; Oil prices; Public sector; Imports; Caribbean; South America
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This paper reviews economic developments in the Dominican Republic during 1990–95. In 1990, the authorities began implementing a program of stabilization and structural reform that, in a relatively short time, brought inflation under control, permitted a resumption of growth, and made progress toward a more outward-oriented economy with greater participation of the private sector. Real GDP grew at an average rate of 4 percent during 1991–93. The annual average inflation rate was brought down from more than 50 percent in 1990 to about 5 percent in 1993.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund